Mortgage Rates: 4.75% is Best Execution. 4.625% is Expensive!

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Posted To: Mortgage Rate Watch

Mortgage rates did bad yesterday. Mortgage rates did real bad yesterday. Some folks call it "capitulation", others refer to it as "liquidation". I will K.I.S.S and just say...it was REAL bad. It was so bad that I didn't double check my loan pricing model...I triple checked it. I even called for a quote. (I love calling lenders and playing dumb. Watch out originators. I might get you) In the end, the bad news was confirmed. Mortgage rates had a REAL BAD DAY. And it didn't get any better today. Loan pricing deteriorated further this morning as benchmark yields continued their seemingly relentless trek higher. The best par 30 year fixed mortgage rates are now in a tight range between 4.75% and 5.00%. There is a steep increase in borrowing costs below 4.75%. Important Mortgage Rate Disclaimer ...(read more)

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Source: www.mortgagenewsdaily.com

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