Mortgage rates moved lower today and yesterday after a spike at the end of last week. According to a report by Mortgage News Daily, rates are still as low as 3.75%, which are still very, very low by historical standards. Here’s an excerpt from MND’s latest report:
Mortgage rates are very slightly lower in many cases after surging on Friday to the highest levels in nearly 10 months. That said, some lenders continued higher today while others were essentially flat. Overall, the average Best-Execution rate is moderately lower today, but very close to Friday’s latest levels. That means that the shift from 3.625 to 3.75% continues to be supported so far this week. 3.75% is the highest best-execution rate we’ve recorded since May of 2012.
As most know, rates have been at historic lows for several months. That trend will not last forever. This spike is a further reminder of that truth.
For more information about rates, you can check out more at Mortgagenewsdaily.com. Or feel free to send me an email if you have any questions. I would be happy to help you with your mortgage related your questions or get you in touch with mortgage professional that can assist you.