Mortgage Rates Dipping on Week

Mortgage rates have dipped on average of 1/8 to 1/4 percent this week thanks to an upsurge in buying activity on the bond market. 10 Year treasury yields have declined .125% over the past week and mortgage shoppers are reaping the reward.

With a slow economic week past and present, the market seems focussed on the price swings in oil. We'll take what we can get in the mortgage market and run to the closing table on any dips. Those on the refinance fence might want to venture on in for a quote and seriously consider locking now. Continued threats of rising inflation and weak financials accompanied by a continuation of poor housing numbers could move mortgage rates out of their historical low range very quickly. It's better to lock a sure thing when the getting is good than to gamble on lower rates down the road in my opinion. Many mortgage shoppers waited on this January's mortgage rate lows and are kicking themselves at present time.

Not much more to report of any significance, so we'll hope the recent dip in mortgage rates hold for the remaining week.

May the Mortgage Rates be with You!

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