Mortgages

Bespoke Investment Group comments on the continued decline in mortgage rates: 

"It's been an epic ride down for mortgage rates over the last decade, and the 4% mark has finally been broken. Below is a chart of Bankrate.com's national average for the 30-year fixed mortgage rate. As shown, the rate is now down to 3.92%. No one can blame high interest rates for the weakness in housing, that's for sure."

My comment:  Rates may be low but as anybody who's tried to get a mortgage can attest, banks have no interest in making loans except to people with stellar credit.  I have a friend who's trying to sell his home and at least two offers have fallen through because the buyers can't get financing.

Link:  Bespoke: Mortgage Rates