According to the Freddie Mac Primary Mortgage Market Survey® (PMMS®), “average fixed mortgage rates following bond yields lower. Averaging 4.12 percent for the week, the 30-year fixed-rate mortgage once again is at its 2014 low.”
“Mortgage rates were down slightly amid a week of light economic reports. Of the few releases, retail sales [PDF] were virtually unchanged in July after a 0.2 percent increase in June, ending five months of increases. Excluding motor vehicles and parts, retail sales were up 0.1 percent last month.” Frank Nothaft, vice president and chief economist, Freddie Mac.