The Smart Team of NOVA® Home Loans

Rates Pushing Deep Into Post-Election Range

Posted To: Mortgage Rate Watch

After stumbling just slightly yesterday, mortgage rates returned to their recent habit of setting new 2017 lows today. At this point, we’re getting closer and closer to post-election lows. You’d have to go all the way back to November, 14th 2016 to see anything lower. In specific terms, even more lenders have joined the majority in quoting conventional 30yr fixed rates of 4.0% on top tier scenarios. The more aggressive lenders are now back into the high 3% territory (3.875% mainly, with a very small minority at 3.75%). Many lenders are quoting the same NOTE rates as yesterday, but today’s upfront costs are moderately lower on average. Rates are benefiting from geopolitical uncertainty and a cooling-off of investor optimism over the Trump administration’s fiscal policy path. Loan Originator…(read more)

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Source: Mortgage News Daily

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