Roseville Refinance Blog

Mortgage Rates Unchanged To Slightly Lower; Hovering Near All-Time Lows

Tuesday, September 18, 2012

Mortgage rates moved slightly lower today in most cases, though some lenders rates were marginally higher today. On average, rates are once again in line with the ALL-TIME LOWS seen on July 23rd of this year. As was the case last time we hit all-time lows, the Best-Execution rate for 30yr Fixed Conventional loans is a bit of a moving target depending on the lender. Some continue to be best-priced at 3.5%, while others make most sense at 3.375%.

Because every borrower's scenario will differ somewhat, we track rates based on a "best-case" scenario in order to have a static baseline from which we can observe the day to day movement. It's important to understand that the rates we discuss aren't necessarily the same rates you'll be quoted (they could be higher and in some cases lower), but the movement between the previous and current days should line up.

Even then, it doesn't always line up for every lender. Different lenders can still respond differently to broader market changes and can also have unique considerations affecting their rate sheets independent of financial markets. Because of this, "most" lenders might be doing the same thing on any given day whereas other lenders could be doing something different.

Today's BEST-EXECUTION Rates

30YR FIXED - 3.375% - 3.5%
FHA/VA - 3.25% - 3.5% (varies more between lenders than conventional 30yr Fixed)
15 YEAR FIXED - 2.75% - 2.875%%
5 YEAR ARMS - 2.625-3.25% depending on the lender