There is a great blog you should read every day. There’s a link, below, plus I copied a whole entry into my journal, so you can see how good he is. You should add this to your “Favorites” folder. It’s useful advice…and where else are you going to get that on the Internet?
Throw Back to 2005.From one of my oldest posts:
NO FOOLIN’: I’ll never knowingly mislead you (but I’m often wrong). Here’s one thing I’m confident in saying: Rates are dropping today, maybe enough to notice. Here’s something I’m not confident in saying, but I’ll say it anyway: With today’s dip in rates, this might be a good time to lock. Discuss it with your lender.
THE NUMBERS: The yield on the 10-year Treasury is down 5 basis points this morning, to 4.51 percent, and the yield on the five-year Treasury is 4.20 percent, down 6 basis points from Wednesday. Mortgage rates tend to move in the same direction as Treasury yields.
Freddie Mac’s required net yields, which are the rates that the financing giant requires on purchased mortgages, are down, too.
From todays Mortgage News:
Average long-term U.S. mortgage rates declined this week, with the 30-year loan rate hitting its low for the year. Mortgage company Freddie Mac says the nationwide average for a 30-year mortgage fell to 4.10 percent from 4.12 percent last week.
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