Rates are Flat This Week and That’s Awesome!

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Posted To: Mortgage Rate Watch

Mortgage rates didn’t move much today. That’s been the theme for most lenders every day this week. Rarely has an absence of change been so awesome! That’s because rates also happen to be at the lowest levels since 2017. It’s rare to rates make a strong move (like the one we saw last week) deep into long-term lows and then hold almost perfectly steady for 4 straight days. Usually, such opportunities prove fleeting, as they did in late March 2019 when the previous long-term lows were only available for a day and a half, depending on the lender. If you happen to see media coverage of rates today and it suggests a massive drop this week, chances are it’s based on Freddie Mac’s weekly rate survey. Freddie’s numbers are just fine in the long run, but they can lag reality when markets are volatile…(read more)

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