Mortgage Rates: Unchanged From Yesterday

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Posted To: Mortgage Rate Watch

Following yesterday's abrupt move higher, home loan borrowing costs spent the day feeling out their new range. Best-Execution mortgage rates and borrowing costs were unchanged today. For a visual representation of the spike in consumer borrowing costs, take a look at THIS CHART. CURRENT MARKET : The "Best Execution" conventional 30-year fixed mortgage rate has risen to 5.125% after spending an extended period stuck at 4.875%. For those looking to permanently buy down their rate to 5.00%, this quote carries higher closing costs but the upfront fee to permanently buy down your rate to 5.00% is worth it to applicants who plan to keep their new mortgage outstanding for longer than the next 5 years. Ask your loan officer to run a breakeven analysis on any origination points they might require to...(read more)

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Source: www.mortgagenewsdaily.com

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