Mortgage Rates Surge to 2-Month Lows

Get out your calendar. Flip, swipe, or glance back at May 29th. That’s where we have to go to see mortgage rates any lower than they are today. After a delightful, but incredibly boring streak of mostly good days, rates finally swung for the fences. Actually, that might be a bit of a stretch depending on your perspective, but consider the following. Mortgage rates tend to be broken up in .125% increments. For the past several weeks (or more, depending on the lender), rates haven’t moved enough for the actual interest rate to change. Instead, the upfront costs act like fine-tuning adjustments for any given rate. In other words, you might be quoted 4.125% on two different days, but with $ 1000 …
Mortgage Rates Newsletter – Market Analysis

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