Rates Are Still Low, But Let's Talk About Forbearances

Mortgage rates moved slightly higher this week, but not enough to worry about too terribly much.  Most lenders are still in the mid-to-low 3% range and there’s not much fear about an abrupt move to significantly higher levels any time soon.  Whether or not that makes the market complacent remains to be seen.  Either way, rates just haven’t moved much when it comes to the rates we can actually talk about.
What do I mean by that?
While we can talk about any rate for any program, there’s only one way to compare changes in rates from day to day and year to year.  To do that, we have to keep track of the best-case rates at multiple lenders.  Fortunately, that’s exactly what I do.  Unfortunately, the landscape has been far more varied than normal as we step away from those top tier scenarios. 

…(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