According to the latest data available, the average mortgage rates in the United Sates have fallen during the previous week due to easing concerns that the Federal Reserve might start rolling back its stimulus package.

Mortgage-finance company Freddie Mac (FMCC) said that the investors are now convinced that the Federal Reserve's bond-purchase program will not be disrupted suddenly. The Freddie Mac's latest survey of lenders showed that the average rate for a 30-year fixed home loan was recorded at 4.37 per cent, compared with 4.51 per cent the previous week and 3.53 per cent a year earlier.

Freddie Mac Chief Economist Frank Nothaft said, "Fixed mortgage rates fell as Federal Reserve Chairman Bernanke helped ease market concerns about the Fed reducing its bond purchases. During a question and answer session following a speech on July 10th, Chairman Bernanke indicated that a highly accommodative monetary policy is what's needed in the U. S. economy."

The Federal Reserve officials are trying to calm the situation by convincing investors that the Federal Reserve will not suddenly withdraw stimulus package that has helped the US economy survive the financial crisis by keeping the borrowing costs low. The reserve will continue to provide stimulus to support the recovery of the economy but has indicated that it will begin a gradual roll back.