A Half-Point Hike In Mortgage Rates – Today’s Mortgage & Real Estate News – Growella

Oh, hey. How about those mortgage rates. They’re all over the place. This is Dan on your inside team at Growella,
coming at you with today’s Mortgage Minute-and-a-Half. Having a tough time keeping up with today’s
mortgage rates? Yeah. So is everybody else. Rates went on a run last week that echoed
that run in mid-2009 when the Fed first put quantitative easing on the table to help jump-start
the economy. Wall Street worried for inflation back then
and that’s exactly what’s driving rates today. We saw 30-year fixeds climb a half-percentage
point between January 1 and today, and now we’re getting a little bit of a respite. That feeling you’re having is whiplash. Or nausea. Or regret. I’m not sure. It’s one of those. Because rates are down today but they’re
higher than where they were. The math of “Should I rent or should I buy”
is a little less clear. Get with a lender to see how today’s rates
affect you. Mortgage rates are down today. Finally because the last few days have been
rough. Here’s what we’re seeing for 30-year loans
from today’s aggressively-priced lenders. Conforming rates have dropped back to four-point-three-seven-five,
FHAs are at four and a quarter, and the always inexpensive VA loans and USDA loans are at
four-point-one-two-five. As always: these rates are your rates, per
se. They’re averages of what people are locking
in the open market. Your actual rate will vary based on you, your
home, and your choice of lenders so make sure to shop around. Always shop around. Talk to two or more lenders. Please talk to two or more lenders. Okay, it’s been a wild few weeks in mortgage
rates. Wall Street sentiment is shifting on some
major things such as inflation, the economy, and the future of the U.S. dollar and it’s
causing mortgage rates to change more quickly than during any time in the last 10 years. Mortgage rates are moving so fast (HOW FAST
ARE THEY CHANGING) mortgage rates are moving so fast that even Summer Britcher is like
“dammmnnnnn”. She’s the favorite to win the luge in Pyeongchang
next week. It’s typical for mortgage rates to change
twice per day. Right now, they’re changing three or four
times, which means that it’s harder to shop for low rates. By the time you choose a rate and lender,
rates and lenders have changed. So, shop fast and be ready and don’t sleep
on those quotes, literally. Rates are moving way too much. Growella does mortgage news three times weekly. Give us a like, subscribe to the show, and
share with us your mortgage rates thoughts in the comment box below.

Paul Whisler

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