Mortgage Rates Low and Steady…sort of

Freddie Mac released their weekly mortgage rate survey showing that mortgage rates have been keeping pretty low so far this year. It’s important to note that the survey is based on mortgage rates from last week and so therefore, they technically are not “current”. You cannot lock in mortgage rates from last week just as you cannot buy last week’s hot stock price.

You can see from the chart above that rates have actually been a bit bouncy. A lot of that is due to the trade war in China and other world issues. Good news tends and a strong stock market generally causes mortgage rates to trend higher. Where the opposite tends to cause mortgage rates to drop since mortgage rates are based on bonds (mortgage backed securities).

If you are interested in locking in a low mortgage interest rate for your refi or home purchase, I recommend you start an application or get a rate quote (for homes located in Washington state only).