Congressional bills could fuel a new race to the bottom 

What’s up with mortgage rates? Jeff Lazerson of Mortgage Grader in Laguna Niguel gives us his take.

Rate news summary

From Freddie Mac’s weekly survey: The 30-year fixed rate averaged 3.85 percent, up two basis points from last week’s 3.83 percent. The 15-year fixed averaged 3.15 percent, also up two basis points from last week’s 3.13 percent.

The Mortgage Bankers Association reported loan application volume was unchanged from the previous week.

Bottom line: Assuming a borrower gets...

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