Mortgage Rates Dipped Last Week (But That Is Over For Now)

Freddie Mac’s Weekly Survey was released this morning with its most recent assessment of the mortgage rate landscape. See the details of their survey below.

Mortgage rates dipped last week as expected when long bond rates lowered, but that was short-lived. Long bond rates have risen substantially today, which suggests mortgage rates will be higher in coming days.

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Today’s Mortgage Rates & Lenders Today’s Bond Rates

Mortgage Rates Continued Rise (But Expect Dip In Next Weeks Survey)

Freddie Mac’s Weekly Survey was released this morning with its most recent assessment of the mortgage rate landscape. See the details of their survey below.

Long bond rates have lowered since yesterday’s announcement of a reduction in the Fed Funds Rate, which suggest that mortgage rates will be a bit lower in coming days.

(dynamic chart with current info)

Today’s Mortgage Rates & Lenders Today’s Bond Rates

Prime Rate Lowered To 4.75%

After today’s .25% rate decrease in the target range for the Fed Funds Rate, banks adjusted their Prime Rates with a corresponding decrease from 5.00% to 4.75%. These changes are effective for most banks tomorrow, October 31, 2019.

In addition to interest rate decreases for commercial loans and credit cards, expect rate decreases in many consumer loans which are based upon the Prime Rate – for instance home equity loans, car loans, and personal loans.