Mortgage Rates See Strongest Friday in Over a Year
Last Friday didn’t see much in the way of improvement in terms of mortgage rates. In fact, some lenders were quoting higher rates over Thursday. All the same, the average rate remained fairly low, representing the lowest rate that many lenders have been quoting for the end of the week in almost three years.
With rates as strong as they are, it’s not a bad idea to lock in. However, it would definitely seem that we are experiencing a downward trend, and it’s not overly optimistic to expect to see even better rates in the future. Trends can change at any moment, but as long as you are prepared to lock in at the first sign of a reversal, you should be in pretty good shape.
As far as this week goes, you can likely not expect much movement early on. Wednesday is the day to look forward to, with the Retail Sales and Producer Prices data released in the morning and the 10-Year Treasury auction in the afternoon. After that, Thursday will bring us the 30-Year bond auction and the CPI release.
