30-year mortgage rates hovering near 2 1/2-year low

What’s up with mortgage rates? Jeff Lazerson of Mortgage Grader in Laguna Niguel gives us his take.
Rate news summary
From Freddie Mac’s weekly survey: The 30-year fixed rate averaged 3.75%, unchanged from last week. The 15-year fixed rate averaged 3.22%, up 4 basis points from last week.
The Mortgage Bankers Association reported a 2.4% decrease in loan application volume from the previous week.
Bottom line: Assuming a borrower gets the average 30-year fixed rate on a conforming $484