Mortgage rates are holding below 5% through the holidays, so far. 30 year fixed mortgage rates which have been quite volatile of late but remain low, at 4.75%. 30 year fixed rates were as low as 4.5% just a few weeks ago. The MBA says low mortgage rates led to 3/4 of mortgage applications being mortgage refinance apps. 15 year fixed mortgage rates are currently as low as 4.25%, according to FreeRateUpdate.com. 5/1 ARM rates are as low as 3.75% at par. 5/1 ARM loans are not for anybody spending more than 5 years in a mortgage.
Next week will bring lots of economic data before Friday begins the Christmas holiday. After mortgage-backed securities declined today risk of mortgage rates going up increased.
In other news: I recently reviewed mortgage net branch opportunities and ranked Supreme Lending #1.