Mortgage rates rallied once again yesterday, bringing rates down to the lowest levels in two months. This downward trend has been mainly influenced by geopolitical risk, most notably the resurgence of violence between
The article goes on to explain, "Part of this underperformance in the mortgage market is a simple fact of life when the rest of the financial world is responding to unexpected geopolitical headlines. Treasuries will always glean the most benefit when investors are seeking safe-haven demand amid risks of war, and other serious events around the globe. And while lenders clearly weren't able to pass on as much of the improvements as they otherwise might, we still saw enough of an improvement to bring rates to their best levels since late May. Today's improvements further solidify 4.125% as the most prevalently quoted conforming 30yr fixed rate for flawless scenarios. 4.25% is starting to fade from view at this point, and 4.0% wouldn't be out of the question if we see just a bit more improvement (though it has a ways to go before challenging 4.125% in terms of prevalence."
Blue Home Loans explains that something borrowers should keep in mind about the current mortgage rate levels is that rates have been stuck in a very narrow range for most of the year. So, while it does seem impressive that rates are at their lowest levels in two months, it is also noteworthy that rates really have not been that much higher within the same time frame. That being said, whenever rates are near the lowest they have been the whole year, it is never a bad idea to lock them in. Those who are near to closing on their loans should definitely consider doing this, while those who have more time on their side might wish to float, as there is some potential for rates to go even lower. Those who are just starting their loan process can lock in on application or also choose to wait.
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Read the full story at http://www.prweb.com/releases/blue-home-loans/rates-down-to-2-mnth-lows/prweb12100044.htm
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