Florida Real Estate News – 30year mortgage rate falls below 4%
Long-term U.S. mortgage rates fell this week to their lowest levels of the year this week: 3.95%. For all of 2016, FRMs averaged 3.65%.
From Matthew Graham at Mortgage News Daily: Mortgage Rates Unexpectedly Fall to 2017 Lows (Again)
Mortgage rates unexpectedly fell to new 7-month lows today, following bond market gains in the overnight hours (Asian and European trading sessions).
The average lender is now quoting conventional 30yr fixed rates in the high 3% range on top tier scenarios. The range is fairly wide between lenders as some were better positioned for these market movements than others. That means the same scenario could see a rate as low as 3.75% at one lender and 4.125% at another with the same closing costs.
It continues to be the case that Thursday’s events have the biggest potential to push rates higher or lower.