Last month, interest rates on single-family loans fell to their lowest level since last year. In addition, there was a nice week-over-week improvement in long-term rates.

Thirty-year note rates averaged 4.21 percent on residential loans that were closed in September. That was the lowest average since it was 4.05 percent in December 2016.

Mortgage rates averaged 4.27 percent in August 2017. But 30-year note rates were worse than in September of last year, when the average was just 3.75 percent.

Source: Mortgage Daily