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Message: From GoLocalWorcester by Dan Forbes, GoLocalWorcester Contributor: The Fed hike at end of 2015 was widely considered the starting point for interest rates to head in an upward trajectory but that has not been the case. Rates have fallen for five straight weeks and Zillow reports that the average 30-year mortgage quoted on its website dropped to 3.5%, a rate that hasn’t been seen since 2013. The 15-year mortgage is also heading down, touching 2.75%. The falling rates haven’t produced more mortgage applications during these winter months, as the Mortgage Bankers Association reported a seven percent for purchases. http://www.golocalworcester.com/business/friday-financial-five-february-5-2016
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