The Smart Team of NOVA® Home Loans

Mortgage Rates are Actually NOT at 2017 Highs

Posted To: Mortgage Rate Watch

Mortgage rates are right in line with yesterday’s levels , and yesterday saw rates fall at the fastest pace of the year, ultimately reaching the lowest levels in more than a week. As such, today’s rates are still the lowest in more than a week! You might not know that if you happened to hear about rates today from a big media outlet. Most are reporting the “highest rates of 2017.” Here’s why that’s happening. Freddie Mac publishes a weekly survey that’s generally regarded as the final word in long-term mortgage rate tracking. If you were only interested in long-term trends in rates, the survey would suit you very well. It’s tremendously accurate over the long haul. If, however, you’re interested in day-to-day or even week-to-week movements, the survey numbers can often give false impressions…(read more)

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Source: Mortgage News Daily

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