Mortgage Rates Return To 2013 Lows

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Posted To: Mortgage Rate Watch

Mortgage rates improved moderately to begin the week, bringing most lenders back to levels not seen since January 2nd or before. Following the Fiscal Cliff "mini-deal," FOMC Minutes, and Employment Report two weeks ago, rates rose at to their highest levels since before the Fed announced it's most recent buying program for MBS (the "mortgage-backed securities" that most directly influence rates) in mid September. The Best-Execution rate for Conventional 30yr Fixed loans is back down to 3.375% for most lenders, though some still linger at 3.5%. ( Read More:What is A Best-Execution Mortgage Rate? ) While borrowers who'd been considering locking their loan in mid December, but decided to wait for the new year aren't quite back to levels that would constitute a major victory, if we factor in the...(read more)

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Source: http://www.mortgagenewsdaily.com/consumer_rates/291281.aspx

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