Mortgage rates continue to hover around all-time lows — and if the economic rebound from the coronavirus shutdowns is prolonged, rates could move even lower.
The 30-year fixed-rate mortgage averaged 3.28% during the week ending May 14, representing an uptick of two basis points from a week ago, A year ago, the 30-year fixed-rate mortgage averaged 4.07%.
The trajectory of mortgage rates could once again be determined by the direction of the yield on the 10-year Treasury note, economists said. The relationship between bond yields and mortgage rates has deteriorated over the course of the COVID-19 crisis, largely because of stress across the mortgage industry.
About the Author
Ryan Christensen
Responsive, Responsible and Resourceful - How Real Estate Should Be. This is the foundation of our continued success: responsive service, providing accurate and timely information, and demystifying the process. 100% of my business is referral based because I listen to my clients' needs and exceed their expectations. As a full-time real estate broker, I am the best advocate for both my buyers and sellers. I am always available, regardless of the time of day.
Being a native Southern Californian is a tremendous advantage. I know the area. Time is more valuable than money, but neither can be wasted. And, I'm a fan of hard work. My clients can enjoy their home buying and/or selling experience because I provide a trusting, focused, straightforward approach. I look forward to helping you achieve your goals and find joy in homeownership.
I am both a licensed Real Estate and Mortgage Broker. Others choose to concentrate on one or the other. I provide a higher level of service and expertise than those who do not obtain this dual skill set, which differentiates me from other service providers. My decisions and advice are based solely on what is in the best interest of my clients. I use Real Estate Sales as a tool to make sure my clients get the home that meets or exceeds their needs. As a Mortgage Broker, I search for the best loans so I can offer lower rates and pricing than my financing competition. This certainly IS in the client's best interest.