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Mortgage Rates Continue at All-Time Lows, But Caveats Remain

Friday, July 10, 2020   /   by Erik Bjorklund

Mortgage Rates Continue at All-Time Lows, But Caveats Remain

Mortgage rates were unchanged to slightly lower today, bringing the average lender right in line with all-time lows.  Averages aside, several lenders are slightly higher than they were on Friday.  Either way, the movement was minimal over the weekend. Beyond that, no conversation about all-time low rates would be complete without several of these recently relevant caveats:

1. Different borrowers will see different pricing.  This sort of goes without saying, but it's much more pronounced than it has been before coronavirus.  Specifically, we're talking about the big differences in mortgage rate quotes for borrowers with certain combinations of risk factors.  These include things like investment properties, cash-out, higher loan-to-value ratios, and the like.  The all-time low rates seen in 2012 (and almost again in 2016) were much lower than what these off-the-beaten path scenarios are seeing today.

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Fidelity Home Group | Mortgage News | Mortgage Rates
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Tony Fuentes
1999 W. Colonial Dr
Orlando, FL 32804

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