Mortgage markets improved last week during a holiday-shortened trading week.
Mortgage markets worsened last week on renewed optimism from the Eurozone, additional evidence of a U.S. economic recovery, and ongoing strength in housing.
Given global economic conditions and the mortgage bond market’s status as a “safe market”, the failure of rates to fall last week suggests that this may be as low as mortgage rates get. It’s time to look at locking in.
As mortgage rates drop, so do housing payments. It’s a good time to consider refinancing your home, or making an offer on a new one. Mortgage payment affordability has never been so high in history.
The Federal Open Market Committee meets this week. Mortgage rates could get volatile.
For as low as 30-year fixed rate mortgage rates are today, 15-year fixed rate mortgage rates are even lower.
Mortgage markets made little change last week for the fifth time in as many weeks.
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