Just two weeks ago, we posted that the new mortgage rates moved slightly lower to officially hit new all-time lows. It appears that after the July Fourth holiday, rates have trickled down even more, marking yesterday, July 10th as the third consecutive day at new all-time lows. As of this week, according to the article from Mortgage News Daily, today’s best execution rates are:
- 30-year fixed – 3.5% to 3.625%
- FHA/VA – 3.5% – 3.75%
- 15-year fixed – 2.875% – 3.00%
Additionally, according to the article, Europe and our own domestic economy are the two main considerations keeping downward pressure on mortgage rates, and investors are waiting for both of those things to either happen or for the risk of them happening to die down significantly before moving out of the safety of bond markets.
Ultimately, choosing whether or not to refinance your home loan can be a stressful process if you’re unsure how to proceed. If you’re curious about seeing how The Mortgage Guys can potentially save you money on your mortgage, don’t hesitate to contact us with questions and concerns.