Mortgage rates near 11 month low – May 15th, 2015

Mortgage rates kept Mortgage ratesmoving lower today as European markets continued to provide an unexpectedly large boost in demand for domestic bond markets.  Those markets include mortgage-backed-securities that most directly affect mortgage rates, and higher demand pushes prices higher, which in turn makes mortgage rates rates lower.

The most prevalently quoted conforming 30yr fixed rate for best-case scenarios (best-execution) is now centered on 4.125%.  Some borrowers will see the improvements in the form of lower closing costs or higher lender credits.

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