Over the last few weeks, we’ve seen 15 year fixed and adustable rate loans drop substantially. 15 year rates have dropped to the low 4% range and adjustable rate loans are now in the mid to high 3% range.
Like I mentioned in an earlier post, the Fed is doing a good job keeping 30 year fixed rates in a range. 4.5% continues to be the bottom rate for 30 year fixed loans. For the 5th time this year, rates came down to 4.5% and held. This is proving to be a strong barrier to break.
