Mortgage rates were moderately to significantly higher today depending on the lender, the program, and on one’s own definition of words like “moderate” and “significant.” If you’re well aware of the recently extreme level of variability between lenders and volatility in mortgage rate pricing, then today was just another random day. But in the context of more normal times, rates were disappointingly higher. It’s also worth mentioning that disappointment is relative considering we’re still talking about conventional 30yr fixed rates in the mid-3% range.
In the current environment, so much depends on specifics and context. We can talk about the average lender moving in a general direction on the average conventional loan. But if you are a well-qualified FHA/VA borrower, you may have seen pricing get a bit BETTER today.
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Source: mortgagenewsdaily.comNew feed