Mortgage Rates continued steadily lower on Friday (Sept 23), adding to a string of improvements that brings them to their best levels in more than 2 weeks. Rates have now re-entered the narrow “post-Brexit” range that began shortly after the UK’s vote to leave the European Union sent rates plunging toward all-time lows.
Our current position is precarious in the bigger picture. Market movements (specifically, bond markets) underlie mortgage rate movement. When it comes to market movements a narrow range like that seen in the wake of Brexit is typically followed by a more convicted move in one direction or the other. The direction tends to be that of the first major break of the range. Because the first major break was toward higher rates, we could say that markets are “breaking the rules” if rates now attempt to reenter the range and move lower.
|Wilson Bank & Trust||3.645%|
Some of the latest, local mortgage rates according to Bankrate.com are:
* The above mortgage loan information is provided to, or obtained by, Bankrate. The rate is based on 30 year fixed rate mortgage and a loan of $300,000. Rates change often an your personal rate may differ from the above number based on your qualifications. To see more rates from Bankrate, click here.
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