According to Freddie Mac's most recent Primary Mortgage Market Survey, the continued decline of the nation's interest rates for home loans might have come to a halt.For the week ending July 7, the interest rate for 30-year fixed-rate mortgages averaged 4.60 percent, which is up from 4.51 percent last week and 4.57 percent from the same week last year. The rate for 15-year FRMs also increased, settling at 3.75 percent after averaging 3.69 percent last week. Compared to last year, however, the rate is down from 4.07 percent.”Mortgage rates followed Treasury yields higher over the holiday week but remain quite affordable by historical standards,” said Frank Nothaft, Freddie Mac's chief economist and vice president. “For instance, interest rates on all mortgages outstanding in the first quarter of this year averaged just under 6 percent. With today's rates, these homeowners who have the ability to refinance could shave $169 per month in interest payments on a $200,000, 30-year fixed mortgage.”Rates for five-year and one-year adjustable-rate mortgages were both up as well. Five-year ARM interest rates averaged 3.30 percent, up from 3.22 percent last week, while one-year averages were 3.01 percent, an increase from 2.97 percent during the same period. Both rates were below last year's averages, though.In Houston, more jobs have been created recently, which could create more interest in real estate. As interest rates begin to slowly climb, more homebuyers might act quickly to take advantage of the affordability.Courtesy of 2M Realty News?