It’s now the second week in January of 2019 and we have seen mortgage rates continue to drop. The following is from Bankrate.com:
- The average 15-year fixed mortgage rate dipped four basis points to 4.07 percent while the average 5/1 adjustable-rate mortgage inched up one basis point to 4.27 percent.
- The benchmark 30-year mortgage rate fell to 4.63 percent, down from 4.68 percent a week ago, according to Bankrate.com’s latest survey of the nation’s largest mortgage lenders.
- That’s the lowest average rate borrowers have seen since April 18, when it hit 4.58 percent. The benchmark rate peaked at over 5 percent in October.
Are you taking advantage of this opportunity?