Month in Review:
As we head into mid-April, we are finding that there has been a slight drop in rates compared to March’s high volatility as bond market holdings for the new month were adjusted. A higher demand for bonds corresponds with lower rates. With a fair amount of volatility in the bond markets, rates have remained fairly steady this month. Since the end of March APR for the 30-year conforming fixed mortgage has dropped 0.12 to 4.109 percent. 5/1 ARM jumbo products have dropped 0.024 to 3.785 along with 30-year jumbo fixed which dropped 0.094 to 3.922. If rates continue to drop due to market volatility, it can be an excellent time for borrowers to purchase a new home or refinance. Especially for those consumers who may have been hesitant to do so during the rising rates period which began in Q4 of 2016.
Source: Informa Research Services is the premier provider of competitive rate and fee intelligence, sales and service evaluation, regulatory compliance testing and lead-generation services to the financial industry. Since 1983, Informa has provided the information clients need to make more profitable business decisions. Currently, Informa serves more than 6,500 clients including all of the nation’s top 100 financial institutions. Our earned reputation for extreme accuracy, depth of product information, and enthusiastic customer service keeps our clients renewing our services year after year.