Friday, September 20, 2013

Mortgage Rate Weekly Recap

Mortgage Rate News: The Feds stay the economic stimulus policy to offset the rise in interest rates. The retreat in the average rate of a 30-year mortgage ensues throughout the remainder of the week dipping slightly lower.  

Mortgage rates remain low by historical standards as rates drop to 4.5%. This gives homebuyers some wiggle room and the housing industry a home building advantage. 

A veritable mortgage rate rush continues as sales of existing homes set a new recovery high in August. Some mortgage advisors are urging consumers to lock in mortgage rates while they still can.