A lack of definitive economic data helped keep mortgage rates at the lowest point since mid-December. Mortgage rates declined for the fourth time in the past five weeks, with the average 30-year fixed mortgage rate dropping to 6.19 percent. According to Bankrate.com's weekly national survey of large lenders, the 30-year fixed rate mortgages had an average of 0.3 discount and origination points.

Company Also to Develop Model Subprime Mortgages
Freddie Mac today announced that it will cease buying subprime mortgages that have a high likelihood of excessive payment shock and possible foreclosure.

NAR believes the parameters issued yesterday in the guidance of commercial real estate lending, designed to help prevent imprudent commercial real estate lending, are overly prescriptive causing many banks, particularly smaller, regional banks, to be dissuaded from making sound commercial real estate lending decisions.