Mortgage rates drop again today for the 8th consecutive day. Rarely has a drop in rates exceeded this long of a rally. We may be in for a bounce, or at least a pause. The jobs report is due out Friday, and depending on the outcome of the report, the Fed may be adjusting it's outlook on raising rates. There are other economic reports due in the next few days as well. For now, most lenders are offering 3.25% to 3.375% for 30 year fixed loan scenarios in he best case scenario. Check back tomorrow for more up to the minute mortgage rates and news.
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• 30 year (FRM) rates at 3.34% (-0.03%).
• 15 year (FRM) rates at 2.69% (-0.03%).
• FHA 30 year Fixed rates at 3.25% (+0.00%).
• Jumbo 30 year Fixed rates at 3.42% (-0.03%).
• 5/1 ARM rates at 2.81% (-0.03%).
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