Mortgage Rates are a tad lower today, which comes as a relief after 10 consecutive days of higher rates. The victory is not so much in the numbers themselves, but rather the idea thast we are finally seeing this last trend turn around (or at least take a break). Of course, we are still holding our prverbial breath, as we wait to see if the rates will continue to drop in the coming days. Oftentimes, following a long rally, the bond markets will see some level of correction. Most lenders are pricing in at 3.625% for top tier scenarios for a 3 year fixed rate. Just two weeks ago the same loan situation saw a rate of 3.375%. Check back here tomorrow to see what the mortgage rates do, and for more market updates.
Bookmark this page for mortgage rates:
• 30 year (FRM) rates at 3.56% (-0.01%).
• 15 year (FRM) rates at 2.87% (-0.01%).
• FHA 30 year Fixed rates at 3.40% (+0.00%).
• Jumbo 30 year Fixed rates at 3.71% (-0.01%).
• 5/1 ARM rates at 2.93% (-0.02%).
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