Important Rate Update and Baby News!

They are falling!! Mortgage rates continued to fall through the close of business today. Typical 30 year fixed mortgage rates are currently at 4.75%-4.875% with 0% origination for a 30 year fixed. (depending on credit, product type and purchase type). I want to go geek on you for a minute just to give a visual. The chart below shows 14 continuous trading days of increased bond prices (green ticks) which corresponds directly to a decrease in mortgage rates. This is mostly a result of meager … [Read more...]