Mortgage Rates are trending lower this morning

Mortgage rates appear to be trending lower this morning for purchases. If you have a credit score above 730, you can lock in a 30 year fixed rate for around 4.875%. Pay a discount point, and you are in the 4.625% range. 15 Year mortgages are trending in the 4.625% range and 4.375% with a discount point.

Below represents the rate swing for the last 30 days as it relates to 30 year fixed mortgages.


















You will notice that the high for the last 30 days has topped around 6.500%, and the low is currently where we are today.

Tha market swings tremendously through the days. If you are in the market, don't get caught trying to time the bottom. Rates are at historic lows....take advantage of them today.