Mortgage Rates Remain Unchanged Despite their Strong Start
Mortgage rates remain unchanged despite the recent strengthening of the market. This week’s market weakening triggered massive reprices by lenders. Yesterday’s changes in mortgage rates were considered insignificant and unable to even change the closing costs.
The most quoted mortgage rate for 30 year fixed mortgages remains 4.125%. Rates continue to maintain a narrow long-term range. They have not changed with more than 0.15% for the past two months.
The 15 year fixed mortgage rate is 3.375% and the 5 year arms rate is between 3% and 3.5%, depending on the lender.
Read the entire article at mortgagenewsdaily.com.