Mortgage rates steady near what might be the best levels of the year
by dylancline on 02/02/10 at 11:48 pm
Reports from fellow mortgage professionals indicate lender rate sheets to be similar to yesterday’s…again. This keeps the par 30 year conventional rate mortgage in the 4.75% to 5.00% range for well qualified consumers. To secure a par interest rate you must have a FICO credit score of 740 or higher, a loan to value at 80% or less and pay all closing costs including an estimated one point loan origination/discount/broker fee. My lock advice will be the same as yesterday. I feel 4.75% is the bottom we will see with mortgage rates. If you are within 30 days of closing, you should strongly consider locking as we believe mortgage rates will be on the rise in the months to come.
