The past week saw a decline in interest rates on residential loans. The outlook for the next seven days is for an even bigger reduction in rates.

Home loans that closed during April 2017 had an average 30-year note rate of 4.41 percent, up 2 basis points from the preceding month.

A far more substantial increase in mortgage rates was recorded compared to the same month last year, when the average was 4.10 percent.

Source: Mortgage Daily