Mortgage Rates Continue Lower

Freddie Mac’s PMMS report released this morning reveals mortgage rates continued to move lower for the third consecutive week. According to this report, mortgage interest rates are at their lowest in (just barely) over a year.

Please keep in mind that the Prime Mortgage Market Survey is based on an average of interest rates from last week. This report is useful for showing interest rate trends. There are several factors that may impact what your mortgage interest rate may be.

Just like you cannot buy stock at prices from last week, you cannot lock in last week’s interest rate. Mortgage rates change constantly – sometimes several price changes may occur in a day.

If you are wanting a low mortgage rate, you need to start a mortgage loan application so you can be in position to LOCK.

If you would like to see if refinancing makes sense or if you’re curious about how much home you can buy with today’s very low mortgage interest rates, please contact me! As long as the home is anywhere in Washington state, I can help you with your mortgage needs. Click here for a no-hassle mortgage rate quote.

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