Mortgage Rates Drop
April 8, 2021
After moving up for seven consecutive weeks, mortgage rates have dropped due to the recent, modest decline of U.S. Treasury yields. As the economy recovers, it should experience a strong rebound in the labor market. Combined, these positive signals will continue to bolster purchase demand. The drop in rates creates yet another opportunity for those who have not refinanced to take a look at the possibility.
Should You Refinance?
- Is your current mortgage rate over 3%?
- Do you plan on staying in your home for the next 3 - 5 years?
If this answer to both of these questions is yes, then refinancing makes sense for you. The general rule of thumb is that if you can reduce your mortgage rate by at 1 percentage point or more then you should refinance. Request a free, no obligation mortgage quote today and find out how much you can save.
Primary Mortgage Market Survey®
U.S. weekly averages as of 04/08/2021
Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Visit the following link for the Definitions. Borrowers may still pay closing costs which are not included in the survey.
Mortgage Rates for Phoenix Arizona:
Yes! I can beat these rates! Please call me or request a quote on my website.
Mortgage rates in Arizona tend to be slightly lower than rates nationwide. Each week, Freddie Mac does a mortgage rate survey of mortgage lenders in the US. Freddie Mac is what’s known as a Government Sponsored Organization. That means the mortgage companies that are responding to this survey are likely to be very accurate in their rate reporting. Be mindful of lenders who are incentivized to publish low teaser rates on their websites simply to solicit interest. Those teaser rates may or may not exist once you get further into the process.
Call for custom mortgage rate quote: (480) 613-7129
Keep in mind these are average nationwide, average mortgage rates. We can beat these rates! Also, these rates reflect the APR which is the interest rate plus any fees (or costs) to originate the loan. When comparing rates, it’s important to always compare the APR. The rates also assume that you have excellent credit, plenty of equity and can document your income..
Use our handy refinance calculator to determine whether refinancing makes sense for you - Click Here