Mortgage Rates on Three Day Winning Streak

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Posted To: Mortgage Rate Watch

Mortgage rates are on a three day winning streak! Yes you read that correctly. After snapping a 5-day losing streak last Wednesday, loan pricing has improved in 3 straight trading sessions. Upon careful inspection, we are ready to update current market "best execution".... UPDATED CURRENT MARKET* : The "Best Execution" conventional 30 year fixed mortgage rate is no longer split between 5.125% and 5.25%....it has fallen firmly to 5.125%. 5.00% quotes are available but borrowers should expect to be charged origination fees if they choose to permanently buydown their note rate. The upfront cost of permanently buying down your rate from 5.125% to 5.00% may not be worth it to every applicant. We would generally advise the permanent floatdown if you plan to hold your new mortgage for longer than...(read more)

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Source: www.mortgagenewsdaily.com

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