Inflation is heating up and the economy is improving, yet mortgage rates keep falling.
According to data released Thursday by Freddie Mac, the 30-year fixed-rate average slipped to 2.88%, with an average 0.7 point. (Points are fees paid to a lender equal to 1% of the loan amount. They are in addition to the interest rate.) It was 2.9% a week ago and 2.98% a year ago.