30 year fixed mortgage rates have been seesawing all week in a tight range between 3.625%-3.750%; rates have been supported by favorable Fed commentary of late and uncertainty in foreign markets. Rates are close to 52 week lows and fundamentally they will have a hard time breaking any lower. This is also a great time to possibly refinance for those clients that have rates in the mid 4’s or higher. The economic calendar is full next week so we may see some volatility in rates then.
Today 30 year conforming fixed rates are in the 3.625% range with zero points; 15 year rates are around 2.875% and jumbo 30 year rates are in the 4.00% range