Did rates go up or down today?

Mortgage rates can not only change daily, but sometimes even multiple times per day. Watching mortgage rates can also be a challenge unless you are a mini mortgage rate guru, fully understand what triggers rate movement, and have a great source for following the movement. For example, the most widely report "mortgage rate" is a survey of rates put out every Thursday from Freddie Mac. The problem with it, is that it is the average from LAST WEEK, and has absolutely nothing to do with what rate you might get today. My biggest suggestion is to simply work with a good Loan officer who understands what you are trying to achieve, and the two of you can work together to get you the best possible deal for your individual situation.

Rates have been stable.. but typically around the holidays', this is the case.. all the "Market Movers" are typically on vacation, so there's little movement with rates for the last 2 weeks of the year.. But as Joe said.. rates can move multiple times in a day.. but also understand that when rates go bad, it goes bad real quick.. but when rates improve, it's typically in small increments and over a long period of time.. Trying to time the market just right is near impossible.. if your in a position to lock in a rate, you should do it now and don't look back. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347