Mortgage Rates Fall for 6th Straight Day

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Posted To: Mortgage Rate Watch

Mortgage rates moved lower for the 6th day in a row today, bringing them in line with the best levels in more than a month. It should be noted, however, that the first half of April was almost perfectly flat in terms of rate sheet fluctuations, so there’s essentially no difference between today’s rates, and one of any number of days from April 5th-19th. At current levels, the most prevalent conventional 30yr fixed rate quote is 3.625% for top tier scenarios and a few of the most aggressive lenders are already back down to 3.5%. Recent history suggests limited incentive for waiting to lock when rates are in this range. Not only that, but any time that we manage to string together so many successive days of improvements, we usually end up with at least a temporary bounce in the other direction…(read more)

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