Mortgage rates have started to fall in a big way during the first week of 2015. While some of the more aggressive lenders are able to offer the top tier borrowers a 30yr fixed for rates around 3.75% for a while, today is the first time where it’s the average rate quote for the top tier borrowers. As of yesterday, it was on par with 3.875%. This is the first time that the 3.75% has been the main quote since May 21st 2013.
The move is because of a broader market momentum that established in early December. This momentum went on vacation , and it is simply getting back to work over the past 2 days. It’s fair to say that it owes itself to some global growth concerns centered around Europe.
