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Thursday, May 12, 2022

Mortgage Rates Move Lower

by Calculated Risk on 5/12/2022 08:11:00 PM

From Matthew Graham at MortgageNewsDaily: Rates Are Actually Lower Today (And This Week)

Rates are actually lower today and significantly lower than last week. In fact, as long as they're still ending the business week on Fridays, this week's rates are significantly lower, with the average lender offering conventional 30yr fixed rates about a quarter of a point below those seen on Friday afternoon.

You'd have to go all the way back to April 27th to see anything as low.
The average lender is now quoting conventional 30yr fixed rates in the at 5.375% or lower for top tier scenarios. This is down from 5.625% at the recent highs just a few days ago.
Mortgage Rates Click on graph for larger image.

This is a graph from Mortgage News Daily (MND) showing 30-year fixed rates from three sources (MND, MBA, Freddie Mac) since the beginning of 2021.  

The 30-year fixed rate for top tier scenarios was 5.35% today, down from the recent high of 5.64%.

Go to MND and you can adjust the graph for different time periods.