MORTGAGE PRICING CONTINUES TO DROP: Mortgage rates / pricing went down for the 6th time in 7 weeks. The bond market closed 50 points up last week, lowering pricing on most loan options by approximately .4 pts in cost to get the loan.
Though pricing is down, most of the par rates are still the same, just a bit cheaper to get in closing costs.
Be cautious in waiting too long right now. The Fed is discontinuing their mortgage backed securities program this month. By the FED not pumping money into keeping interest rates low, we could see a rise in rates at the end of June. I would lock in pricing if you are satisfied with a rate.
