Orlando Mortgage Blog

With a national average rate of around 4.625% last week (does not include typical 1% origination fee that's never mentioned) folks have been jumping on recent historically low refinance rates. According to the MBA 78.7% of new applications were for refinances. Read more...

The thirty year fixed rate purchase quote appears to have improved slightly to the basement 4.375% range early this morning on well qualified applicants submitting complete loan packages. We'll see if that holds with the DOW up 136 points on slim news on bank profits. The stock market is about all that's been driving rates of late as it plays tag with investors moving between it and bonds.

3PM rate update: DOW now up by 188 points and points just got bumped .25% on price. That's back to 4.50% /zero points on the 30 fixed. The good news about these washboard rates? IT'S IN THE MID 4% RANGE FOLKS!