Don’t get too excited. Mini Blip on the radar. This article on average 30 year mortgage rates falling is a little bit of hype because they only fell .03%. That’s not enough to actually make a difference and nobody would see the actual result of that in a transaction but facts are facts. It goes on to explain that the average drop in price on a 15 year mortgage was about .08%, again, not that bit of a deal. Nonetheless, hopefully your mortgage planner is advising you to lock your loan in. There is opportunity for an improvement but the risk of 30 year mortgage rates worsening is much greater than what you might have to gain by floating. Unless you like to gamble or cost isn’t an issue for you, I would consult w/your loan officer and talk about locking in. For more information on locking your loan, locking strategies, or just want to know what the average 30 year mortgage rate is contact Certified Mortgage Planner & California Mortgage Hero Chris Reese 916-502-1656 or visit Sacramento Home Loan Specialist.
30 Year Mortgage Rates Fell Again!
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