Already At All-Time Lows, Mortgage Rates Continue Lower At Unprecedented Pace

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Posted To: Mortgage Rate Watch

Mortgage rates begin the week at new all-time lows yet again after falling significantly from last week's series of previous all-time lows. Markets have been quite calm during domestic hours, but interest rates moved slightly lower overnight before domestic trading hours. With bond markets holding steady to slightly improved since then, mortgage lenders continue to pass on those improvements in the form of more aggressive rate sheets. Despite recent press indicating that QE3 isn't affecting mortgage rates, the movement last week and today is rather impressive . When rates move lower, we typically see them shift gradually from one Best-Execution level to the next. This was the case several weeks ago when 3.5% regained its position as the most prevalent Best-Execution rate after a brief stint...(read more)

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Source: www.mortgagenewsdaily.com

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