Mortgage rates would have been volatile this week. The presence of Labor Day just piles on. If you have a chance to lock something favorable and within your budget, consider doing it.
Inland Empire mortgage rates are (again) at their lowest levels in history.
No doubt you’ve heard that mortgage rates are low. They’re lower than they’ve ever been in history. The news is everywhere. But the low rate environment looks like it’s ending.
Conventional California mortgage rates in the Inland Empire may be posting all-time lows this week, but that doesn’t mean you’ll be eligible for them. You may have already called your loan officer and found this out the hard way. It’s because of a federally-mandated mortgage-pricing scheme known as “loan-level pricing adjustments”.
Mortgage rates may be dropping, but in the Inland Empire mortgage costs are not. According to Freddie Mac, the average required discount points on a conforming mortgage rate are higher by 0.1 percent since early-May.
California Mortgage rates are low and they likely won’t stay that way. If you’ve been thinking about a refinance, talk to your loan officer as soon as possible.
Shopping for mortgage rates takes more than good research skills. It takes a little bit of luck, too.