What’s up with mortgage rates? Jeff Lazerson of Mortgage Grader in Laguna Niguel gives us his take.
Rate news summary
From Freddie Mac’s weekly survey: The 30-year fixed rate improved to 4.75 percent, down 6 basis points from last week. The 15-year fixed improved 4 basis points, now averaging 4.21 percent.
The Mortgage Bankers Association reported a 2 percent increase in loan application volume from the previous week.
Bottom line: Assuming a borrower gets the average 30-year fixed rate on a conforming $484,350 loan, last year’s payment was $231 lower than this week’s payment of $2,527.
What I see: Locally, well-qualified borrowers can get the following fixed-rate [READ MORE HERE]
Source: OC Register