Mortgage rates moved lower Wednesday, but the amount was not only smaller than underlying market movement suggested, it also varied widely from lender to lender. This likely has a lot to do with lenders’ strategies heading into today’s volatile events. The lenders who had set rates higher than normal yesterday as part of a defensive strategy were able to drop rates a bit more than other lenders today. But even when we add those bigger moves into the mix, we still didn’t see enough improvement to bring contract rates back down to 3.625%. The most prevalently-quoted conventional 30yr fixed rates remains solidly in 3.75%-3.875% on top tier scenarios.
Here is a look at national mortgage interest rates and a week-by-week comparison:
* The above mortgage loan information is provided to, or obtained by, Bankrate. The rate is based on 30 year fixed rate mortgage and a loan of $300,000. Rates change often an your personal rate may differ from the above number based on your qualifications. To see local rates from Bankrate, click here.
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