Déjà vu all over again as mortgage rates inch down toward 4 percent

Mortgage rates are getting close to 4 percent again, but don’t expect another refi boom, Calculated Risk’s Bill McBride writes — many homeowners refinanced when rates dropped below 4 percent in 2012 and 2013.

Rates for 30-year fixed-rate mortgages averaged 4.1 percent with an average 0.5 point for the week ending Aug. 28, down from 4.51 percent at the same time a year ago, Freddie Mac reports.