Great news for Buyers who have been on the fence from

"The 30-year fixed-rate mortgage (FRM) averaged 2.90% this week, according to Freddie Mac’s weekly survey. It’s a notable decline from week’s 2.98% average, but it continues a months-long pattern of rates slightly above or below 3%.

“Mortgage rates decreased this week following the dip in U.S. Treasury yields,” says Sam Khater, Freddie Mac’s chief economist. “While mortgage rates tend to follow Treasury yields closely, other factors can be impactful, such as the labor markets, which are continuing to improve per last week’s jobs report.

Khater still thinks economic growth will “gradually drive interest rates higher – but homebuyers and refinance borrowers still have an opportunity to take advantage of 30-year rates that are expected to continue to hover around 3%.”