If you’ve got a home purchase in escrow or are contemplating a refinance, interest rate movements are a big deal. And the decision to lock or float your loan can have long-lasting implications. Because knowledge is power, we’re offering a quick rundown of the factors driving mortgage rates today and what you need to know to make your lock / float decision.
30 Year FRM
15 Year FRM
5/1 Year ARM
FHA 30 Year FRM
Jumbo 30 Year FRM
*** LOCK ALERT *** RATES IMPROVE SLIGHTLY IN ABSENCE OF ECONOMIC REPORTING
With no important economic reports due today, bonds and mortgage-backed securities (MBS) will once again take their cues from the stock market. As those investments languish — the Dow, S and P and Nasdaq all lower this morning — bonds and mortgage securities look better. As their prices increases, interest rates drop.
However, there really hasn’t been enough news to warrant the drops we’re seeing this morning …