How will this affect your mortgage?While neither of these actions directly impacts mortgage rates, either can have the result of pushing rates higher, even in advance of actual Fed rate policy changes.What should you do?Consider that today’s low rates aren’t likely here to stay long term. If you are thinking of purchasing or refinancing, it may pay to act soon. As well, if you’ve been thinking about purchasing a second or investment home, a recent change has made rates and availability of agency backed financing better.
Today’s rates
New Home Purchase or Refinance
Conforming Interest rate
30-yr fixed 3.125%- 3.200%
Rates are not static, they often change throughout the day.
If another lender offers a lower rate, there's a buy-down involved.
Often not mentioned when quoting the lower rate
Actual rates vary based on Loan Amount, Middle Credit Score, DTI, Term
Today’s rates based on a purchase 740 middle score, conforming loan, detached, primary residence, non-self-employed, detached, primary home
Shawn SmithMLO/Broker | NMLS # 863501(214) 396-3650 | Mobile: (817) 706-8619shawn@sublimefinancial.comwww.sublimefinancial.comSublime Financial, LLC14785 Preston Rd Dallas TX 75254
NMLS # 1134044
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