Posted To: Mortgage Rate Watch

As of yesterday, we knew mortgage rates were already in line with their lowest levels ever . It wouldn’t have taken much to set the record today and indeed that’s exactly what happened. Thus we find ourselves in a familiar situation where rates have returned slowly and steadily to an all-time low boundary after an initially volatile reaction (this time, the initial bounce was back in early March). At times like this, it’s not uncommon to see a series of additional forays into what are technically “all-time lows.” Will those rates be far enough away from today’s to suggest that anyone waits to lock a rate if they’re in a position to do so? That’s a much trickier question. Many times, the additional improvements have been minimal in these situations. While there is reason to believe the current…(read more)

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Source: Mortgage News Daily