According to mortgage giant, Freddie Mac, mortgage rates declined for the first time in two months! The average rate on a 30 year fixed rate mortgage fell to 4.77% from 4.86% in a weekly comparison.

Rates have continuously climbed upward since November of last year, when investors began shifting their money out of Treasury's and back into stocks. Since mortgage rates are closely tied in with long-term Treasury Bonds, the rates began to drop. Many

Although the low rates did little to jump start home sales, refinancers took advantage of the low rates.

Freddie Mac collects rates from lenders across the nation weekly Monday through Wednesday and as the rates are so closely tied in with Treasury Bonds, the rates are liable to fluctuate significantly even on a given day.