We’re in an extremely volatile market and it isn’t unusual to get multiple interest rate changes within a single day. It feels like lenders are quick to increase rates when the market is doing poorly, and slow to improve rates when the market is doing well! But there is strong mortgage bond trading today, so we are getting some price improvements (yay!). We’ve been so used to low interest rates the past few years that it’s hard to keep them in perspective.
I received this graph from a title company rep in the East Bay. It’s interesting to see the general trend in rates from 1971 to present … and hopefully also make us realize that even though rates may be trending upwards, they’re not that bad from that historical perspective. Click on the link to see the pdf.
Contact me directly if you need an interest rate quote or are curious to see exactly where rates are at and how they’ve been trending on certain loan products.
