Interest rates are down again! The average rate for a 30 year mortgage has continued to drop for 3 consecutive weeks almost matching the low point of the year which was approx. the week of May 28th. The Federal Reserve is spending $1.25 trillion on mortgage backed securities, which has driven down rates on home loans. I can only imagine that rates are going to go much higher once the feds get less involved in creating artificially low interest rates.