Mortgage rates near all time lows

By
Real Estate Mortgage Broker with West Town Savings Bank

As you all know we are on this rollercoaster called the US economy for the past few years and nothing has been as crazier than the last week.  We say a major correction in the stock market yesterday and an expected uptick today. Treasuries and Mortgage Backed Securities have been riding a 7 day streak of positive movement. Rates have come down as much as .5% over the past 2 weeks. What I am surprised is how well the 3-year Treasury Auction did today and how we have seen a reversal of the down MBS market that is starting to move into positive territory.

A few examples of my recent activities:

Client was purchasing a Jumbo in TX. 30 year fixed I quoted him a rate of 5.125% last week and we locked into today at 4.875%

Another client was refinancing his FHA loan in Fl. at 4.5% last week and we locked today at 4%.

What a week it has been and it's only Tuesday.

Need help? Need advice? Need a plan for your mortgage let me know I can help.

Jon jstarr@westtownsb.com

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Topic:
ActiveRain Community
Location:
Connecticut
Groups:
All About Fairfield County, Connecticut.
Bergen County, New Jersey
Connecticut Professionals
Westchester County
Westchester Real Estate Network (WREN)
Tags:
rates
refinance
mbs market
mbs
mortgage
mortgage rates
mortgages
loans
home loans

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Rainer
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Jon Starr

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