Sunday, October 1, 2023 | The Latest Buzz for the Appraisal Industry

Mortgage Rates Returning to Recent Lows

By Matthew Graham

Posted To: Mortgage Rate Watch

Mortgage rates fell again today, bringing them very close to their lowest levels in more than a year and a half. US bond markets (including Treasuries and mortgage-backed-securities) continue taking cues from European bond markets where the benchmark 10yr yield just fell to a new record low. While US Treasuries benefit more than mortgages, there was still enough of a spillover effect to push mortgage rates noticeably lower. Top tier rates for top tier borrowers are now getting back into the high 3’s, with 3.875% being the most prevalent conforming 30yr fixed quote today. For the record, 4.0% is not far behind. 3.75% exists, but it’s not common and may entail higher upfront costs. There’s not really much to be said about this strength in mortgage rates apart from the fact that “it’s nice.” It…(read more)

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Via:: Mortgage Rates Returning to Recent Lows