Normally we expect rates to increase going into a holiday weekend so the rate improvement on Friday was unusual. The primary reason rates improved was the announcement by OPEC members to not cut oil production. Oil prices dropped on the news. Cheaper oil means a boost to the economy as consumers have more money to spend.
30 YR: 3.75% to 4.00% (APR: 3.8% to 4.1%)
15 YR: 3.00% to 3.25% (APR: 3.2% to 3.5%)
7 YR ARM: 3.125% to 3.5% (APR: 3.2% to 3.6%)
30 YR: 3.375% to 3.5% (APR: 5.5% to 5.6%)
30 YR 3.875% (APR 3.9%)
We’re not sure how long these rates will last but our buyers have been given a great holiday gift! Call me to get the most current rates.