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November 17, 2020

Rates 2.69% NO COST 30 YR Fixed Conforming and 2.375% 15 YEAR FIXED

I've been peaching for years that this day would come, here we are. Most clients in the last month locked at 2.69 to 2.99% for free, no points, no fees, no nothing. That is for a 30 year fixed loan amounts over $300k only. Hint's the reason I did not have time to post last month.

Rates will most likely continue down however we could see a period where they are higher and that day could be any day, the amount of time it last, who knows, but if you take the lowest rate for free now, you can always redo your loan again in 6 months. If its free, what is the cost? 

While it's true the feds implemented a 0.5% fee to raise funds for C-19, less than a week afterwards the market improved by that same amount, just as I predicted would be the case.