Fannie, Freddie increasing mortgage loan limits

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 fell 5 basis points from last week, landing at 4.85 percent. The 15-year fixed averaged 4.26 percent, 3 basis points lower than last week.
The Mortgage Bankers Association reported a 7.1 percent decrease in loan application volume from the previous week.
Bottom line: Assuming a borrower gets the average 30-