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 again, landing at 4.08 percent, two basis points better than last week’s 4.10 percent. Ditto for the 15-year fixed, which averaged 3.34 percent, two basis points better than last week’s 3.36 percent.
The Mortgage Bankers Association reported a 1.5 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 $424,100 loan, last year’s rate of 3.