No, Mortgage Rates Are Definitely Not Back to All-Time Lows!
Posted To: Mortgage Rate Watch
It’s Thursday and thus time, once again, for the weekly mortgage rate survey from Freddie Mac. News organizations and even some bond market strategists (sadly) rely on Freddie’s weekly update for a sense of mortgage rate movement. That’s why an overwhelming majority of the new mortgage rate articles on any given week come out on Thursdays. Unfortunately , the unified onslaught of news coverage adds unjustified credibility to what is at best stale information. This creates uncomfortable conversations for loan originators and their clients who ask why their recently quoted rate isn’t any lower. After all, today’s rates are at all-time lows, right?! Wrong… And that’s not just a halfhearted “wrong” due to some technicality or tricky math. Today’s rates are actually and unequivocally not even…(read more)