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About Credit Mortgage Rate Trends

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Mortgage rates this week were mixed and there has been some volatility that had potential to move the numbers higher–Thursday, for example, was a big day with a quantitative easing program announced by the European Central Bank.

That had big potential to move rates depending on investor reaction to that announcement, but on Thursday mortgage loan rates in general held steady. This issue still has the power to affect mortgage loan rates in the U.S. depending on conditions and is a factor worth paying attention to.

In general, 30-year fixed rate conventional mortgages are still considered low, even though the best execution rates have moved away from the 3.5% territory we saw earlier for the most qualified borrowers and back into a range that tops out, best execution, at 3.75% at the time of this writing.

About Credit loan rates are still in their comfort zone, best execution, at 3.25%. It may take some dramatic movement, or several days of sustained change to push the rates out of this zone, at least in the short term.

There is more variation among participating About Credit lenders for mortgage loan interest rates, so your experience may vary and it pays to shop around. Also, best execution rates are not available to all borrowers or from all lenders–your FICO scores and other credit qualifications may play a big part in your access to such rates.

The next week should be interesting to watch–some industry pros are telling people to float cautiously, but floating always carries a degree of risk, so if you have not committed to an About Credit mortgage loan rate yet and are wondering whether to wait, make the most informed choice you can and know that this week’s rate behavior may be further influenced by market volatility depending on conditions.

Do you have questions about About Credit home loans? Ask us in the comments section.

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