Thirty-year mortgage rates level off at 4.5%

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 4.5 percent, down 1 basis point from last week’s 4.53 percent. The 15-year fixed averaged 4.0 percent, two basis points lower than last week’s 4.02 percent.
The Mortgage Bankers Association reported a 2.5 percent decrease in loan application volume from the previous week.
Bottom line: A