Posted To: Mortgage Rate Watch

Mortgage Rates continue to ebb and flow in the same pattern that has persisted for over a month. The average Best-Execution interest rate for a 30yr fixed loan has remained at 3.875% during that time and the closing costs associated withtthat rate have been gently rising and falling, with increasing regularity. We've rarely strung together 3 days in a row with movements in the same direction (i.e. borrowing costs rise very slightly 3 days in a row, while Best-Ex stays at 3.875%), and the actual difference in those costs day over day continues to be fairly minimal. Those borrowing costs rose very slightly today, a reasonable conclusion to the previous two sessions offering all time low rate/fee combinations. This means that whereas 3.75% was "as close as it's ever been to sharing equal recognition...(read more)