Mortgage Rates Are at Their Lowest Point in a Month

401(K) 2013 / Foter / Creative Commons Attribution-ShareAlike 2.0 Generic (CC BY-SA 2.0)

Last week saw mortgage rates falling to their lowest levels in a month at a quite fast pace. This was due to better rate sheets presented by lenders.

The 30-year fixed rate moved between 4.375% and 4.5%, but then stabilized around 4.375% and even fell to 4.25%. As for the 15-year fixed rate, it was at 3.375%. The 5-year ARMS rate was between 3% and 3.5%, varying between lenders.

Mortgage rates remain quite unpredictable, so it’s difficult to make specific forecasts on risks and gains. Loan originators mostly have a positive outlook on the situation. They see it as a great opportunity for consumers. According to them, the current floating presents a good chance to get high rewards with low risks.

Read the full article at Mortgage News Daily.