Mortgage Rates as of February 13, 2013
Mortgage rates surged higher at their quickest pace since late January on Wednesday eclipsing the previous highs of the year seen around the same time. For many lenders–and for the first time since mid 2012, this takes Best-Execution for 30yr Fixed, Conventional Loans back up to 3.75%. Some lenders remain at 3.625% and lower rates are still quite viable in certain situations. As always, remember that what we refer to as “best-execution” can vary depending on personal preferences. Also, it’s important to remember (when we’re talking about Best-Ex being at different levels between lenders) that it doesn’t necessarily mean the lender with the lower best-ex is better priced than another–simply that the their adjacent rate offerings (usually .125% higher and lower) are not as efficient in terms of borrowing cost vs payment. Click here to read more.