Friday, July 01, 2016

"6-Day Winning Streak Leaves Mortgage Rates Near All-Time Lows"

by Bill McBride on 7/01/2016 06:09:00 PM

From Matthew Graham at Mortgage News Daily: 6-Day Winning Streak Leaves Rates Near All-Time Lows

Mortgage rates fell moderately today, adding a 6th day to a winning streak that began with last week's Brexit news and bringing rates right to the brink of all-time lows.... bringing some lenders from 3.625% to 3.375%, which is now the most prevalently-quoted conventional 30yr fixed rate on top tier scenarios.

Why is 3.375% important? Simply put, the next time rates move a notch lower, they'll be back to official all-time lows. In fact, 3.375% is the lowest rate that markets were able to maintain for more than a day or two back in 2012.
emphasis added
Here is a table from Mortgage News Daily: