Mortgage rates continue near historic lows

Norhill Realty February 25, 2014

Mortgage rates fell quite a bit today after a pretty rough Monday.  Check out the most recent report from Mortgage News Daily, a great resource to stay up to date on the most recent mortgage rate news.

Mortgage rates fell noticeably today, after being pushed up against the highest levels in nearly a month yesterday.  In that sense, the positivity in the underlying markets allowed rates to breathe a sigh of relief, quickly returning to levels in line with last Tuesday’s.  When adjusted for changes in closing costs, the improvement was as much as 0.08% in some cases.  Some borrowers may experience that in the form of significantly lower closing costs (no change in rate) while others may see an eighth of a point lower in rate for the same (or slightly higher) closing costs.  After today, we’re much closer to 4.375% being the most prevalently quoted 30-yr fixed rate  for the very best borrower scenarios (best-execution), though 4.5% shares much of that spotlight. To read the rest of the story, click here.

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If you are ready to start your home buying due diligence, speaking with a qualified mortgage professional is a great place to start.  Over the years, we have developed some great relationships with qualified mortgage professionals and we would be happy to make an introduction. Give one of our experienced agents a call or shoot us an email if you would like to learn more.