Mortgage Rates Hit 2 Month Low Thanks To the Stock Market

Although the Federal Reserve raised rates recently, the combination of the stock market tumbling and continued concerns with China have an inverse effect on Bonds. As a result, we typically see a drop in interest rates as demonstrated by the average 30 year mortgage rate dropping to 3.92% today, the lowest in 2 months (even with the increase by the Feds)...you may want to make a move on locking your loan for a purchase or refinance. Read more about it HERE