Mortgage interest rates started out at 2.65% this January and kept on rising -- all the way up to 3.18% on April 1st. 

But, then, they started declining again.

Interest rates are now averaging at 2.97% for a 30 year fixed rate mortgage. 

That is well below where we were...

Today's home buyers are certainly happy to be seeing interest rates declining again, as it helps to offset the rapidly increasing prices that they find themselves paying for houses in this quickly moving and highly competitive market.