No one expected this to happen.
Halfway into 2017, mortgage rates are dropping.
Analysts predicted rates closer to 4.5% by now; instead, they have dropped below 4% for qualified borrowers, and not that much higher for those with imperfect credit.
It’s welcome news.
Home buyers are snatching up homes as soon as they become available. They know rates could creep up at any time, pricing them out of the home they want. Buying power and affordability are both at historically good levels.
Refinancing homeowners are once again checking rates after a run-up following the 2016 election.
It’s a very, very good time to be shopping…
Courtesy of The Mortgage Reports.com