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Mortgage Rates Slightly Lower

Posted To: Mortgage Rate Watch

Mortgage Rates have been exceptionally calm recently. The only major exception has been the implementation, delay, and re-implementation of a new fee that affects almost all refinance transactions. The coming and going of this “adverse market fee” has accounted for the biggest day-to-day differences in rates for any given lender who flipped the switch. Those days vary by lender because the fee’s deadline applies to a post-closing event for lenders that cannot be accurately predicted. In other words, they know they’ll pay the fee on any loans delivered to the housing agencies on or after December 1st, but they don’t know how long it will take to get the loans from the closing table to the “delivery” milestone. As unfortunate as the extra expense has been for homeowners, we’ll fortunately soon…(read more)

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