Rates Hold Near Long-Term Lows

Mortgage rates recently moved back down to the range that prevailed for most of the past 3 months following Brexit (The UK's vote to leave the European Union). Last week was just the first phase of that recovery and there was a risk that it would just be a temporary move. But rates only improved this week, with several lenders offering their best rates in more than 2 months on Wednesday. The most prevalent top-tier conventional 30yr fixed quote remains 3.375%, just an eighth of a point above the all-time low of 3.25%. There's still no guarantee we'll be able to hold this ground, but next week's economic data could be the deciding factor, with particular focus on Friday's jobs report. -Matt Graham, Mortgage News Daily

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