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      09-03-2019, 03:31 PM   #114
CLABRO
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Quote:
Originally Posted by corn18 View Post
I have been watching mortgage rate closely for 2 months. 2 months ago, the 10 yr was @ 2% and 15 year rates were around 3%. 10yr and 30 yr have dropped 0.5% and the mortgage rates have not moved. Very odd.
Where are you looking? Mortgage rates have also dropped *slightly*. The thing is, mortgage rates aren't too far off from their all time lows so it's not like we're going to see a significant reduction in mortgage rates nor should we expect to see that. Nothing odd about it really.

Historically speaking, we're still in a low interest rate environment! I think people forget that and think that a 2.75% fixed rate 15 year mortgage is normal and they're just going to wait until that comes back around next month. Rates like that don't just come around every 5 years.....

As Run Silent said, I suspect mortgage rates will drop another ~15-20 basis points as they should (Fed rose rates too quickly to begin with, but that's another topic).
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