How much can mortgage rates change in a day?

Today was one of the most volatile days we’ve seen in years. I believe it’s the biggest hit the DOW has seen in three years. Mortgage rates started off surprisingly low this morning and this afternoon, they are heading back up. I still have a couple lenders who are still under 4% for a 30 year fixed conventional mortgage, as I write this post (3:09 pm, October 15, 2014).

EDITORS NOTE: These rates are expired. For current mortgage rates for your Washington home, please click here.

So where are rates now? I’m quoting:

  • 3.750% (apr 3.911%) priced with 1.381 points.
  • 3.875% (apr 3.985%) priced with 0.760 points.

3.750% is now priced 0.827% higher in fee than what I quoted this morning! Or 0.125% higher in rate.

It’s hard to say where rates will be at tomorrow or even later this afternoon.

My best advise is that if you want a rate at a certain point and that window of opportunity presents itself,  you need to be able to pull the trigger and act quickly.  

Rates quoted above are based on a loan amount of $400,000 with an 80% loan to value for a 30 year fixed conventional mortgage with 740 or higher credit scores.

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