The average rate on the popular 30-year fixed rate mortgage loan hit 3.70% Friday August 2nd according to Mortgage News Daily. We haven’t seen rates this low since November 2016. That rate will slip even lower as a result of the escalating U.S.-China trade war as investors flock to the bond market, driving yields down. 30-year mortgage rates may dip into the mid-3’s this week.
Rates are now incredibly favorable for both refinancing existing loans and home purchases. Existing borrowers h... read more