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A first-time homebuyer's inexperience can cause some costly mistakes.
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Posted To: Mortgage Rate Watch

Mortgage rates built on yesterday's strength and continued lower today. After lenders released rate sheet improvements in the afternoon, the average offering was right in line with the low rates seen on February 13th or 6th. While Monday's run up to 1-month highs briefly shifted the most prevalently quoted rates an eighth of a percentage point higher, the past 2 days of strength brings us back to a 4.375% Conforming 30yr fixed rate for the very best borrower scenarios ( best-execution ). Some instances of 4.5% may still be viable, but buying down to 4.25% b
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ecomes increasingly attractive if we hold here or move lower. So in 3 days, we've moved from the highest rates in a month to 2-week lows, and did so despite a much stronger-than-expected report on New Home Sales today. Strong economic data...(read more)

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