For Mortgage Rates, "High 3's" In Sight Once Again

Mortgage rates took the day to do just a little bit more of what they’ve been doing in fairly grand fashion for the past week: MOVE LOWER!  When the good times started in earnest (after last week’s Fed Announcement), rates were already in line with their lowest levels in more than a year.  As of today, they’re another quarter or a percentage point (0.25%) lower.  In other words, if you’d been looking at a quote of 4.375% last Tuesday, you’d likely be seeing 4.125% today.
Whether or not that’s the conventional 30yr fixed quote you’re seeing depends on a variety of factors.  But certainly, for anyone with more than 20% equity and strong credit/income, 4.125% is a given and 4.0% is increasingly available. …(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.
Source: mortgagenewsdaily.comNew feed