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Watch Out For Fake Mortgage Rate News

Despite your thoughts on the term “fake news,” we have to talk about it in the context of mortgage rates.  It’s highly pertinent, even if deception is far from the intention.  Thursday is a big day for mortgage rate news because that’s when Freddie Mac’s weekly mortgage rate survey is published.  Why does that matter?  Because, while any given lender can do a fine job of tracking their own rates over time, Freddie is one of the only games in town when it comes to capturing a broad average rate offering among multiple lenders.  It doesn’t hurt that their numbers go back to the 70’s and that they’re one of the two gigantic housing agencies that see a vast majority of all mortgages in the US move across their desks in some capacity. …(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

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