If you’re in the process of purchasing a home, it just might be the perfect time to lock in your interest rate! The nation’s average 30-year fixed rate mortgage rate fell to 3.70%, the lowest since late 2016 according to Mortgage News Daily.
Economists speculate that rates could fall even lower in the upcoming week, as bond yields (a large predictor of home loan prices) continue to drop.
As always, it’s important to note that advertised mortgage rates may be contingent upon purchasing “points,” which are paid on settlement day in exchange for a lower rate. If you’re interested in learning more about qualifying for a home loan, please be sure to give us a call at (215) 699-5555. We’d love to introduce you to a helpful, friendly, knowledgeable loan officer!