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Bart Castelli

Mortgage Rates Continue to Fall

Thursday, August 28, 2014 - Article by: Bart Castelli - Homestar Financial Corporation NMLS #70864 - Message

Mortgage rates inched a little bit more towards the lowest point for 2014. It seems like I am repeating myself as the interest rates that are normally influenced by strong economic reports did just the opposite - as the market considerations still is being looked at heavily overseas. The most prevalently-quoted conforming 30yr fixed rate for top tier scenarios is now at 4.125%, with 4.00% now becoming a factor with higher closing costs into the picture.

As expected, we have had another trading session with a very thin range from our intra-day highs to our intra-day lows. Weaker than expected Unemployment data out of Germany and another bizarre story out of Ukraine has helped to keep MBS into positive territory despite our strong economic news - which would "normally" cause MBS to sell off - with a better than expected 2nd QTR GDP revision, stronger Pending Home Sales and Initially Weekly Jobless Claims once again coming in below 300K.

I Remember, if you want to know the benefits of locking your rate today versus floating, simply give me a call at 314-744-7806 or visit me on my website at I have access to real time Wall St. data and instant market alerts with breaking news that I monitor throughout the day to assist us on making the informed decision.

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