Mortgage Rates: Steady Despite Weak Treasury Auction

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Posted To: Mortgage Rate Watch

Mortgage rates continue to enjoy a period of relief after rising rapidly in recent weeks. The extent to which this relief period matures into a more extended and stable mortgage rate rally is still undecided, but at least now it's possible. Those looking to stay as protected as possible even during potentially more favorable times still need to keep an eye out for the risks that crop up along the way. We discuss the current risks in the "New Guidance" section below. CURRENT MARKET : The "Best Execution" conventional 30 year fixed mortgage rate is 5.00%. There is an opportunity to lock 4.875% for those who wish to buy down their rate, but this quote carries higher closing costs than 5.000%. The upfront cost of permanently buying down your rate from 5.000 to 4.875% may not be worth it to every...(read more)

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Source: www.mortgagenewsdaily.com

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