Well, folks- Forgetting about the macro economic conditions, all of this turmoil in Europe has really helped mortgage rates stay down.
While we are continuing to see challenging underwriting conditions, the upside is that rates are still historically low.
Better than a Lexus
They’ve come down about 0.25%
in the last few weeks.
30yr fixed are around 4%, 15-yr are 3.625%, and the Interest-only products are almost all under 3% at this point.
If you own, this continues to be an excellent time to refinance.
If you are looking to buy, the iron is hot.
Strike.
If Europe sees some light at the end of the tunnel, rates may pop a little bit.
In the meantime, take a trip and enjoy the cheap Euro.
Happy Holidays!