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Mortgage Rate Update 5-9-12: Trends, Projections & Todays Lowest Rates
The market continues to make small moves overall. Are we due for a large swing before the week comes to a close? The graphs below have been provided as a resource fo you to see past the marketing hype of mortgage companies and learn the true direction of mortgage rates, along with the vital knowledge behind THE TRUTH BEHIND MORTGAGE QUOTES .
The Mortgage Street Smarts of where mortgage interest rates are going (and why):
The following information is current as of Wednesday 5-9-2012 and will help you understand todays best mortgage rates. If you are a Buyer/Borrower who is still on the fence (or if you are a Real Estate Agent attempting to educate your "on the fence" Buyer), please review these trends and secure an historically low interest rate before it is too late.
The market closed Tuesday with a WORSENING to pricing (and will typically warrant a pricing adjustment by most Lenders). Tuesday's WORSENING resulted in a change of 3 basis points (bps).
(hint: upward activity is good, downward activity is bad)
The following chart shows the market activity for today:
The following chart shows market activity over the past 10 days (hint: green is good, ... more
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