Mortgage Rates: Flight to Safety Put to Test

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Posted To: Mortgage Rate Watch

This week begins with mortgage rates holding onto recent improvements. Last week, we discussed how a "flight to safety" helped drive up investor demand for bonds, which ultimately led to lower mortgage rates. The Best Execution conventional 30-year fixed rate moved down twice during the week. READ MORE. SEE CHART CURRENT MARKET : The "Best Execution" conventional 30 year fixed mortgage rate has fallen to 4.875%. For those looking to buy down their rate to 4.75%, this quote carries higher closing costs. The upfront cost of permanently buying down your rate to 4.75% is not worth it to many applicants. We would generally advise the permanent floatdown if you plan to hold your new mortgage for longer than the next 10 years. Ask your loan officer to run a breakeven analysis on any origination points...(read more)

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Source: www.mortgagenewsdaily.com

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