Mortgage Rates Fall
Mortgage rates eased again last week, with long-term rates continuing their decline from a high for 2011 set three weeks ago, according to Freddie Mac's weekly survey.</br></br>Rates had been on the rise early this year, last month hitting the highest point since April after slumping most of last year in tandem with Treasurys, which fell on the uncertain economic backdrop.</br></br>Mortgage rates generally track Treasury yields, which move inversely to prices.</br></br>Freddie chief economist Frank Nothaft cautioned that "housing demand still remains weak."</br></br>Mr. Nothaft noted that new-home sales in January neared the lowest point since at least 1964, when data collection began, according to the Census Bureau.