Mortgage Rates Continue to New 3 Month Lows – Ventura Real Estate

by Gary and Lisa Schoeffler on September 29, 2013

in Latest News

Sep 27 2013, 4:29PM

Mortgage rates fell noticeably today, keeping alive an impressive streak of 13 days without higher rates.  Three out of those 13 have been ‘unchanged,’ yesterday being one of them.  There was a chance this marked a shift in the positive momentum, but financial markets were quick to get back on the ‘lower rates’ bandwagon when it began rolling again this morning.  Conforming, 30yr Fixed rates moved down to 4.25%  (best-execution) for most lenders, a level not seen since June 19th.  A decent amount of lenders remain at 4.375% while others have reasonable buydowns to 4.125%, depending on your scenario and personal preference.

Today’s positivity was made possible by a team effort of market movers.  Although it is one of the least significant of the bunch, Italian political and economic turmoil pushed investors toward safer-haven debt such as US Treasuries.  This helped Treasuries hold their ground overnight and helped MBS (the “mortgage-backed-securities” that most directly influence mortgage rates) begin the day in slightly positive territory (positive = higher prices = lower rates).

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Post by Gary and Lisa Schoeffler

Gary and Lisa Schoeffler are Ventura Real Estate Professionals specializing in residential real estate. Their expertise in helping both buyers and sellers is widely recognized in Ventura County. How can they assist you today? Wondering what the market is like? Call them, they will be happy to talk with you about it. 805-320-4472

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