Happy Friday home ? shoppers! For today’s weekly rate update I’m here to report we haven’t seen a lot of movement in mortgage rates lately. Historically, we have seen rates spike at the onset of busy spring market, and then slightly settle and hold steady. Of course, I don’t have a crystal ball ? , however feel like we are in the settling stage now.
Your rate update: ?
Insured ‘full feature’ 5 year fixed = 2.04%
Insured quick close = 1.74%
Insured ‘special’ 5 year fixed = 2.04%
Insurable 80% LTV = 2.19%
Insurable 75% LTV = 2.19%
Insurable 70% LTV = 2.04%
Uninsurable purchase = 2.04%
Refinance = 2.29%
I know that is a lot of numbers, and it probably seems like you need a university degree to decipher it all ?. This is because gone are the days where a 5-year mortgage rate was standard across the board. Mortgage rates now are very specific to the file, the equity position and the purpose of the loan, and so your rule of thumb shall just be to call me!
Happy home ? shopping this weekend!