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Bad Economic News means Good News for Home Buyers

Interest rates flucuated like crazy yesterday-changing at least three timesGlobal Markets sinking  Stock Markets Plummeting  Is the R-Word getting tossed around in Washington

Then the annual percentage rate you receive on your mortgage is probably going down.  Locked your rate already this month because you didn’t think it’d go any lower  Check again.

This morning mortgage brokers and lenders at banks weren’t even sure what the rates were because they’d fluctuated so much yesterday. 

The chart is the national average rate on a fixed conforming loan over the last year. 

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