Proposed self-employment mortgage act will allow risky loans

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 4.52 percent, up one basis point from last week’s 4.51 percent.  The 15-year fixed averaged 3.97 percent, one basis point better than last week’s 3.98 percent.
The Mortgage Bankers Association reported a 1.7 percent decrease in loan application volume from the previous week.
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