Mortgage Rates Close to All-Time Lows
Mortgage rates moved slightly lower today, bringing them to levels seen only one other time in the past 3 years. Even then, that was only for a few hours on February 11th. This time around, we’ve been holding near these 3-year lows in much more stable fashion. If rates are able to move any lower from here, that will put them in line with all-time lows. That would connote an average conventional 30yr fixed rate of 3.375%, which isn’t too far away considering more than a few lenders are quoting 3.5% on top tier scenarios today. 3.625% remains slightly more prevalent.