Mortgage Rates End Week Near Long-Term Lows

Wednesday was the best day this week for Mortgage rates with the average lender at the lowest levels in more than a month and very close to the lowest levels in more than a year.  Things changed on Thursday with rates moving up slightly.  That said, Thursday would have been the best day in more than a month had it not been for Wednesday!
Friday brought effectively no change to Thursday’s levels, thus keeping the average lender very close to long-term lows.  In fact, the average loan quote won’t have changed in terms of the quoted interest rate during the past 3 days–only in terms of the upfront costs.  In other words, APR would be slightly higher while the payment rate itself would be unchanged (APR factors certain upfront costs into a total cost of financing). …(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