Interest rates on residential loans turned lower over the past seven days. But an increase is likely with fixed rates over the next seven days.

During all of January, conforming fixed rates on purchase-money loans averaged 4.37 percent, the Federal Housing Finance Agency reported.

FHFA said that the average, which is based on a small monthly survey of mortgage lenders, increased from 4.08 percent in December 2016.

Source: Mortgage Daily