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- Mortgage Rates 📢 August 26th, 2024
Mortgage Rates 📢 August 26th, 2024
Rates Lower⬇️ — Movement across the board week over week.
Glenn Groves
August 26, 2024
INTEREST RATES
10-Year-Treasury 1-Month Snapshot
Product | Rate / APR | Weekly Change |
|---|---|---|
⬇️ Conv. | 6.375% / 6.390% | -.125% |
⬇️ Conv. HB | 6.625% / 6.635% | -.250% |
⬇️ JUMBO | 6.750% / 6.759% | -.125% |
⬇️ FHA 3.5% DP | 5.500% / 6.419% | -.125% |
⬇️ VA 0% DP | 5.625% / 5.883% | -.125% |
Rate data as of morning of publication. Unless noted otherwise, all scenarios are assuming 30 Year-Fixed mortgage, Purchase or R/T Refinance. No origination points charged, 780 FICO score, and 20% down payment. Provided for consumer education only and does not serve as a binding offer to extend lending. Payment period, interest rate, APR, and other terms subject to income, asset, and credit profile qualification. Provided courtesy of GTG Financial, Inc. NMLS 1595076. Equal housing opportunity. www.nmlsconsumeraccess.org
Rate Markets: Week-over-week movement is headed in the right direction! Fed chair Powell said, “The time has come [for interest rate cuts].” Job market revisions show that the labor market is much weaker than previously thought, and PCE inflation numbers will be released Friday and are expected to help push bonds even further down. This is all good news.
Bottom Line: Tell your buyers and sellers to buckle up. This could be a busy winter market.
If they are still thinking about getting into the market or not, they are now at serious risk of missing the boat and getting caught with the general population. Mainstream media is pushing “rate cuts” and “lower mortgage rates are here” news. The word is out.
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