Wednesday, 28 September 2022 | The Latest Buzz for the Appraisal Industry

30yr Fixed Mortgage Rates at 3.75%

By Matthew Graham

Posted To: Mortgage Rate Watch

Mortgage rates have fallen substantially in the first week of 2015. While a few of the most aggressive lenders have been able to offer top tier borrowers 30yr fixed rates at 3.75% for quite a while, today is the first day where it’s decisively the average rate quote for top tier scenarios. As of yesterday, it was still neck and neck with 3.875%. This is the first time that 3.75% has been the dominant quote since May 21st 2013, one day before the taper tantrum began in earnest. The move is a result of broader market momentum that was in place in early December. That momentum went on vacation the same time everyone else did, and is simply getting back to business over the past 2 days. It’s not unfair to say it owes itself to global growth concerns centered in Europe. Slumping stock markets, falling…(read more)

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