Posted To: Mortgage Rate Watch
Mortgage rates finally caught a break today. This is quite a welcome development (indeed, yesterday’s commentary pointed out that no breaks were being caught!), but the magnitude of the improvement left something to be desired. Still, we’ll take what we can get at the moment. For most borrowers, today’s improvement will simply decrease the closing costs associated with the rates they were already being quoted. For conventional 30yr fixed loans, the average lenders remains at 4.0% for top tier borrowers. A few of the most aggressive lenders (emphasis on few) are at 3.875% while more than a few are up at 4.125%. Today’s positivity creates a natural question : is this the beginning of a bigger bounce? We may well have asked the same question late last week after two days of improvement on Thursday…(read more)
Via:: Mortgage Rates Catch a Break, but It’s Small
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