Today, I thought I'd include a little bit of extra info today in addition to my interest rate snapshot. Some of you may have seen headlines that say something like, "Mortgage applications at 22 year low!" Well, that's not entirely true. According to charts from Mortgage News Daily, it's Refinance Applications that are at a 22 year low. But Purchase Applications are at about a late 2015 level.
And just looking at those charts, it's good to point out that our current 5.5% interest rates are still historically quite reasonable. All that to say, this market is certainly survivable!
And that brings me to my rates for today:
You'll see that we had a very minor increase from last week (less than 1/8%). But even with that, I can lock your buyers in at less than 5.5% right now for basically no points.
I hope that's helpful! Please remember me if you have a buyer who is uncertain about rates. I can give them some of the best available and would love the chance to provide a quote. As always, if you ever have any questions or need some research done, I am always happy to help.
Until next week!
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