Although almost 1% higher than last year, mortgage interest rates have slighty come down this past 9 day period between October 22nd ending Nov. 1, falling back after increases in the previous period, according to the Primary Mortgage Market Survey released by Freddie Mac.
The average rate for 30-year fixed-rate mortgages fell to 4.83%, with an average 0.5 point, from 4.86%. The mortgage averaged 3.94% in the same period in 2017. However on Novermber 2nd, we saw the rate spike up a half percent (5o+ pts). With rates going back up and taking away all the improvement that we had been privvy to, the concensus by many industry leaders is to take advanatage of the rates that are available NOW before they climb higher and get into the range that may be outside of your comfort zone. Call ABBA First and allow us to quote you the BEST rate that you can imagine for your needs!