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Rates Remained Unchanged for the Week 
The Conventional 30 year fixed rate remained the same for the week at 4.500%. This rate would be available for a borrower who has excellent credit (credit score of 740 or greater) and could be obtained with little or no points if you make the right size of down payment on a single family home.

The Conventional 15 year fixed rate remained the same, as well, at 3.500%, assuming the same parameters as mentioned above.

SHOULD I LOCK OR FLOAT?
There has been some minor improvement in the mortgage market this week, but lenders seem reluctant to move rates much lower. I think this improvement makes it reasonable safe to float, there is the potential for continued volatility, so don't put your head in the sand. If you are uncomfortable with risk, then should always lock your rate.

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Rate Stability is a Good Thing. 
The Conventional 30 year fixed rate remained the same for the week at 4.500%. This rate would be available for a borrower who has excellent credit (credit score of 740 or greater) and could be obtained with little or no points if you make the right size of down payment on a Single Family Home.

The Conventional 15 year fixed rate remained the same, as well, at 3.500%, assuming the same parameters as mentioned above.

SHOULD I LOCK OR FLOAT?
There is the potential for continued volatility, so don't ignore the market. If you are uncomfortable with risk, then lock your rate, but if not, I think the risk is minimal in floating, especially since rates have been stable from week to week.

[ 237 comments ] ( 5089 views )   |  permalink  |   ( 3 / 2020 )
15 Year Fixed Up Slightly at Week's End 
The Conventional 30 year fixed rate remained the same for the week at 4.500%. This rate would be available for a borrower who has excellent credit (credit score of 740 or greater) and could be obtained with little or no points if you make the right size of down payment on a single family home.

The Conventional 15 year fixed rate rose this week to 3.625%, assuming the same parameters as mentioned above.

SHOULD I LOCK OR FLOAT?
I think the risk/reward situation at the current time is roughly 50/50. I know that doesn't help much, but that said, lock it in unless you are very comfortable with the potential for your rate to rise slightly.

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Rates Unchanged, but Remain Cautious 
The Conventional 30 year fixed rate remained the same for the week at 4.500%. This rate would be available for a borrower who has excellent credit (credit score of 740 or greater) and could be obtained with little or no points if you make the right size of down payment on a single family home.

The Conventional 15 year fixed rate remained the same, as well, at 3.500%, assuming the same parameters as mentioned above.

SHOULD I LOCK OR FLOAT?
Well, not much is happening due to the Holidays. The bad part of that is a little downside action will move rates higher more than it should, so I say lock it in until we see what the New Year brings. Better safe than sorry at the moment.

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Week End Mortgage Rates Unchanged 
The Conventional 30 year fixed rate remained the same for the week at 4.500%. This rate would be available for a borrower who has excellent credit (credit score of 740 or greater) and could be obtained with little or no points if you make the right size of down payment.

The Conventional 15 year fixed rate remained the same, as well, at 3.500%, assuming the same parameters as mentioned above.

SHOULD I LOCK OR FLOAT?
What a difference a week makes. Although rates are unchanged for the week, the market went through a huge change with the Fed Tapering $10 Billion from it's QE3. There was a lot of volatility, but we had a nice little rally on Friday. We may see small, gradual, continued improvement for the remainder of the month, so I think it is ok to float at the moment. There is the potential for continued volatility, so don't put your head in the sand. If you are uncomfortable with risk, then lock your rate and take the money and run.

[ add comment ] ( 1786 views )   |  permalink  |   ( 3 / 2015 )

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