Mortgage rates declined slightly enough to officially hit new all-time lows. Some perspective is in order though. Certain lenders' rates are unchanged on the day, and some are even slightly higher, but the average moved lower. The improvements from yesterday were seen in the form of lower borrowing costs for those same rates. Bottom line: Best-Execution remained at 3.625%, but just got a bit more affordable.

I am often asked is this the best time to lock in a mortgage interest rate?  I am reminded of the limbo and the question “how low can you go?”. Rates simply just can’t drop much more from here.  For more than 60 years there has not been a better time than now.

The possibility of a sharp upward spike in response to unpredicted or unscheduled events remains a risk.  The risk/reward matrix for floating a historic bottom is generally negative.


  • 30YR FIXED - 3.625%
  • FHA/VA -3.5% - 3.75%
  • 15 YEAR FIXED - 3.00%
  • 5 YEAR ARMS - 2.625-3. 25% depending on the lender