As folks returned from holidays overseas and got their power turned back on
after Irene, participation picked up in the markets and Mortgage
Rates improved yesterday, basically right back to Friday afternoon’s
levels.
But our old friend “volatility”
brought rates right back up to Monday’s levels! Arghgh!
What to do?! Fortunately, we told
you what to do yesterday,
when we said the “ongoing guidance from recent posts is back in full effect.” So hopefully, you’re locked up, and if not,
read the “guidance” section below.
CURRENT MARKET*: The BestExecution 30-year fixed mortgage rate
has moved BACK UP to 4.25% and in some cases 4.375%. Several lenders are
willing to offer lower rates, but those quotes carry with them additional
closing costs. On FHA/VA 30 year fixed BestExecution moved BACK UP
to 4.25%. Deals can be structured with lower rates, but again, you’ll pay
more for those, so make sure
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