The two consecutive weeks, we’ve watched mortgage rates slowly work their way down after a nasty spike in rates last month.
With weak economic data, signs of controlled inflation and talks of a new stimulus bill, investors have quietly moved more of their money in to Mortgage Backed Securities.
For the first time in over 3 weeks, a buyer can now secure a FHA 30 year fixed at 5% without paying buy-down points. A conventional buyer can secure loans between 4.75%-4.875% with excellent credit and 20%+ down.
If you missed out on our last run of low interest rates, get your “Rate Lock Gun” loaded.
