Morning Minute: Mortgage rates dip slightly after recent gains

Fixed mortgage rates reversed trend this week and fell slightly with the 30-year, fixed averaging 4.29 percent and the 15-year rate averaging 3.38 percent, Freddie Mac reported today.

“Mortgage rates were down slightly following the release of real GDP estimates for the first quarter of the year which rose 0.1 percent and fell well short of market expectations. Meanwhile, the pending home sales index rose in March ending eight consecutive months of decline and the S&P/Case-Shiller® 20-city composite house price index [PDF] rose 12.9 percent over the 12-months ending in February 2014,” said Frank Nothaft, vice president and chief economist for Freddie Mac.

In other headlines:

Mortgage Closings to Get Easier in 2015? – Daily Real Estate News

Residential construction spending up 16% in first quarter – HousingWire

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