Mortgage Rates as of Tuesday

Yes, rates have improved again today. Many people thought we would see a slow but steady rise in the coming months, which may still happen, but with the economic uncertainty in Europe and more specifically Greece driving concerns in the market today the reverse has happened. The treasury yields moved lower as investors rushed to risk averse assets, this pushed MBS prices higher and allowed the lenders to pass along the savings. Par 30 yr conventional rates are still averaging between 4.875% & 5.125% to qualified borrowers. If you were thinking of refinancing I would suggest moving quickly while the market is favorable.

As always, if you have any questions, feel free to contact me, John.