Mortage Rate Watch
Mortgage rates are likely to remain in their slow-rise pattern, either staying close to where they are now are or edging higher slowly. However, right now there are lots of bond friendly things happening, too soon to say for sure but the elements are in place to have a bond rally which could improve rates. The world unrest, European economic meltdowns, Japan contracting, Bank of England holds rates and the stock market may finally be correcting. A lot of reasons to buy bonds indeed. It’s still a very good time to lock in attractive rates.
30 YR Fixed Rate - 4.875% 0 points
5 YR ARM - 3.5% 0 points
15 YR Fixed Rate - 4.25% 0 points