Saturday, March 25, 2023 | The Latest Buzz for the Appraisal Industry

Opportunity Knocks as Mortgage Rates Surge Lower

By Matthew Graham

Posted To: Mortgage Rate Watch

Mortgage rates are on an absolute tear. In the past 2 days, they’ve rocketed a full eighth of a point lower. They’re a full quarter point lower than the average rates available in 2nd half of December and .375% lower than December’s highest rates. For anyone feeling like they missed out in May 2013 as the taper tantrum began, here’s your opportunity. Today is officially the first day we can say that rate sheets are at least as good as May 21st, 2013, the day before Bernanke’s congressional testimony unofficially kicked off the taper tantrum and sent mortgage rates quickly higher . At that time, the abrupt rise meant a move up to 3.75% from 3.625%. Today’s gains restore 3.625% as the lowest widely-available rate for the best borrowers. One caveat is that this is somewhat dependent on the lender…(read more)

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