Mortgage Rates Move Deeper Into Long-Term Lows

Granted, we’re not back to the sub-4% mortgage rates that dominated much of the past 8 years, but breaking into the high 3% range is a valid consideration after the past few days.  Yesterday’s surprising Fed news hit the rates that were already holding near their lowest levels in well over a year. The net effect has been a decisive break lower with the average lender easily able to offer 4.375% on a typical 30yr fixed scenario.  Many lenders are at 4.25%, and the interesting thing about 4.25% is that it currently doesn’t cost much more to buy your way down to the next lower rate: 4.125%.  
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Source: mortgagenewsdaily.comNew feed