A nice improvement was recorded this past week for interest rates on residential loans, and the forecast is for a further decline.

Fixed rates on 30-year loans averaged 4.20 percent in Freddie Mac’s Primary Mortgage Market Survey for the week ended Jan. 5.

Thirty-year rates improved by 12 basis points compared to the previous week but worsened versus 3.97 percent as of year previous.

Source: Mortgage Daily