Thursday, 29 September 2022 | The Latest Buzz for the Appraisal Industry

Mortgage Rates Close to a Major Milestone

By Matthew Graham

Posted To: Mortgage Rate Watch

Mortgage rates improved again today rounding out an entire week of gains. They’re nothing to shake a stick at, either. Although the most prevalently-quoted 30yr fixed rate for top tier borrowers will remain 3.875% today, 3.75% is making a solid showing. Right now, it’s neck and neck with 4.0% for the 2nd place slot. These are the best rate sheets we’ve seen since late May 2013. There’s something special about “late May 2013.” To be fair, it was especially awful as that was the beginning of the end for the golden era of low interest rates–a 1 year affair that saw top tier 30yr quotes between 3.25 and 3.75%. I will personally never forget May 22nd, 2013 as one of most jarring days of losses in mortgage rate history. That afternoon’s article opened with “Mortgage rates were utterly destroyed…(read more)

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