Friday, December 30, 2016

"Mortgage Rates Slightly Lower to End 2016"

by Bill McBride on 12/30/2016 04:18:00 PM

From Matthew Graham at Mortgage News Daily: Mortgage Rates Slightly Lower to End 2016

Mortgage rates moved lower for a 3rd consecutive day to end 2016, bringing them to the lowest levels in more than 3 weeks for many lenders. December 8th was the last time rates were lower. As of yesterday, 4.25% regained the status of the "most prevalent" conventional 30yr fixed quote on top tier scenarios. Quite a few lenders remain at 4.375% and a scant few are down to 4.125%.

While this is all good news in the context of the past few weeks, 2016 nonetheless ends with one of the worst 2-month losing streaks in the history of mortgage rates. Specifically, the 5 weeks following the election were the worst 5 weeks on record, going back to the Spring of 1987.
emphasis added
Here is a table from Mortgage News Daily: