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Low mortgage rates are likely to stay that way

Posted by Bonnie Martin Designated Broker on Monday, December 10th, 2012 at 7:55am.

washington examiner. com - Mortgage interest rates seem to seesaw from week to week but still are drifting down and recently hit several new lows.

The Federal Reserve has said it will continue to intervene to keep rates low until employment rises to a level it considers adequate -- and major players in the financial markets are taking it at its word.

Freddie Mac had an average contract interest rate the week before Thanksgiving of 3.31 percent, and its economists project rates will remain below 4 percent until 2014.

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