Mortgage Market
Terrible! The one word to explain what has happened to Mortgage Rates over the past 72 hours, just like that we have lost over -100 basis points. The lowest 30 year fixed rate as of today is 4.25%, and the lowest 15 year fixed is 4%. Both conforming mortgage rates are for qualified borrowers and come with no points or origination. If you are closing your purchase or refinancing application in the next week I would highly recommend LOCKing in asap. Please do not panic however, I do expect Mortgage Rates to come back down a bit after the November 3rd Fed meeting when they will announce Quantitative Easing.
Inquire within for current Mortgage Rates or guidelines bc@SmarterBorrowing.com 617.771.5021
FLOAT or LOCK
If I was closing on a Home Mortgage in the next 0 to 15 Days – LOCK
This is only my opinion of what I would do if I were financing a home. It is only an opinion and cannot be guaranteed to be in the best interest of all/any other borrowers.
If I was closing on a Home Mortgage in the next 0 to 15 Days – LOCK
If I was closing on a Home Mortgage in the next 15 to 30 Days – LOCK/FLOAT
If I was closing on a Home Mortgage in the next 30 to 60 Days – FLOAT
If I was closing on a Home Mortgage in the next 60+ FLOAT
