(Chart by the Orange County Register/SCNG) What’s up with mortgage rates? Jeff Lazerson of Mortgage Grader in Laguna Niguel gives us his take.
Rate news summary
From Freddie Mac’s weekly survey: The 30-year fixed rate averaged 3.64%, down 9 basis points from last week. The 15-year fixed rate averaged 3.16%, down 5 basis points from last week.The Mortgage Bankers Association reported a 10.1% decrease in loan application volume from the previous week. Bottom line: Assuming a borrower gets the average 30-year fixed rate on a conforming $484,350 loan, last year’s payment was a stunning $305 higher than this week’s […]
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