Mortgage rates moved back down, albeit just slightly, into last week’s range. They’d risen for 2 straight days by Friday, and today’s improvement leaves them closer to Wednesday’s levels. That assessment requires a bit of clarification, however.
Rate movement can refer to changes in the actual interest rate that determines the monthly payment amount of a mortgage. But there are other upfront fees and credits that affect the overall cost of financing. For example, if you are being quoted a lower rate than anyone else, but have to pay thousands of dollars to get that rate, you might not be saving any money over time.
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Source: mortgagenewsdaily.comNew feed