Average 30 year fixed rate 7.17.14

According to Freddie Mac, the average 30 year fixed rate dipped to 4.13% this week (keep in mind this is based on paying points and average closing costs for underwriting, appraisal, title and escrow).  Also in the survey the 15 year fixed fell to 3.23%.  Rates overall my drop in the bond market continues to rally the next 3-5 days.  Lenders are cautious when it comes to lowering rates so any improvements from these levels will likely be small unless a major crisis develops.