Mortgage Rates Start 2015 at Long Term Lows Mortgage rates improved significantly to kick off the new year. The gains are a combination of actual improvement in bond markets and lenders lowering their guard from conservative holiday pricing strategies. In other words, lenders had been holding back a bit during the holidays. Thats normal and wed discussed it as a factor. And now, not only are those conservative strategies fading, but underlying bond markets (which drive mortgage rates) are improving to boot. The positive double-whammy brings rates in line with--or lower than--anything else in the past 19 months. The most prevalently-quoted conforming 30yr fixed rate for top tier borrowers is now easily 3.875% and an increasing number of lenders are at 3.75%. All that having been said, its important to keep in mind that markets arent fully back up and running in terms of participation and volume. While the holidays are behind us, many market participants wont be back in the office until next week. Well have to wait until then to see if todays strength is the start of a new trend. Today from Mortgage News Daily.
Posted on: Mon, 05 Jan 2015 17:02:52 +0000
Trending Topics
Recently Viewed Topics
© 2015