Mortgage rates drop for the second week in a row.

The 30-year fixed rate fell to 6.87% this week according to Bankrate.com, a drop of 4 basis points. This is the second decrease in two weeks, which is good news for home buyers in the Santa Clarita area!

The 30-year fixed rate was 5.67% a year ago, so we’re still looking at relatively low interest rates overall.

Major items affecting interest rates this week were the bombing of the trains in India and the June employment report.

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