Posted To: Mortgage Rate Watch

For some lenders, it was last week. For others, it was today. After months of waiting and multiple successive reports of all-time lows from other sources, the average lender is now finally back in line with the actual all-time lows seen on August 4th, 2020. If I’m telling you that, and other sources have told you other things, how do you know who’s right? Actually, everyone’s right, as long as you understand the limitations and implications of their respective methodology. I went into significant detail on that a few weeks back ( click here to read the piece in question) but the key difference is that my mortgage rate tracking adjusts daily–sometimes several times a day–so it was better able to capture the ultra low rates on August whereas it was lost in the averaging methodologies of other…(read more)

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Source: Mortgage News Daily