Mortgage And Refinance Rates, July 12 | Rates falling today
Mortgage And Refinance Rates, July 12 | Rates falling today
Abstract
Because mortgage rates today look likely to fall, judging by early movements in markets. Current mortgage and refinance rates Should you lock a mortgage rate today? Don't lock on a day when mortgage rates look set to fall. Yesterday's fall in mortgage rates was welcome. So we only count meaningful differences as good or bad for mortgage rates. Caveats about markets and rates Before the pandemic and the Federal Reserve's interventions in the mortgage market, you could look at the above figures and make a pretty good guess about what would happen to mortgage rates that day. Expert mortgage rate forecasts Looking further ahead, Fannie Mae, Freddie Mac and the Mortgage Bankers Association each has a team of economists dedicated to monitoring and forecasting what will happen to the economy, the housing sector and mortgage rates. As federal regulator the Consumer Financial Protection Bureau says: "Shopping around for your mortgage has the potential to lead to real savings. It may not sound like much, but saving even a quarter of a point in interest on your mortgage saves you thousands of dollars over the life of your loan." Mortgage rate methodology The Mortgage Reports receives rates based on selected criteria from multiple lending partners each day.