MORTGAGE RATES DIPPED

In our post last week, we showed you how the yield on the 10-year bond dipped under 4% and that is a leading indicator and mortgage rates may be coming down.  Well, yesterday, Freddie Mac’s Primary Mortgage Market Survey showed the 30-year fixed mortgage at 6.47%, the lowest it has been in over a year.  The 15-year fixed was at 5.63%.  Now, this survey is based on past data and may not be representative of the current market.  For instance, the 10-year bond actually retraced and touched 4% in the last week, thereby driving rates back up a bit.  

Nevertheless, mortgage rates have come down.  The rate you can get will depend on your specific scenario.  If you are considering your mortgage financing options, give us a call.  We can help.