Below are examples of interest rates available today for primary SFR conventional loans.
TRUE NO CLOSING COST LOAN OPTION
PROGRAM RATE APR* FEES
Conventional 30 yr. Fixed 3.375% 3.375% $0 (None)
Conventional 15 yr. Fixed 2.875% 2.875% $0 (None)
March should be another stellar month for mortgage rates.
Mortgage rates will continue to fluctuate based on developments in the fight against the coronavirus, also called COVID-19.
In February, markets were watching the spread of the virus, with new cases being discovered in many countries outside China. Mortgage rate watchers are justified in wondering how a virus could affect rates. The relationship is not exactly obvious. Mortgage rates fall during times of economic uncertainty and lower expectations of inflation. The coronavirus contributes to both.
Additionally, economic growth could slow on a global scale as factory production slows, people travel less, and overall activity lessens. In mid-February, Apple, one of the world?s largest companies, announced it would miss revenue projections for the quarter. It blamed factory closings in China and a slower return to normal conditions than expected.
Furthermore, demand in China slowed, as people were hesitant to enter stores.
Apple is just one indicator of how a larger outbreak could slow the pace of the global economy.
Of course, no one wants a global health situation, but one unexpected outcome could be lower rates through March and perhaps beyond.
Now could be the time to lock in a low interest rate in case these events push up rates this month.
BBB A+
Apply online:http://visionquestlending.com/free_quote/
Tony Nguyen | NMLS#93776
Vision Quest Lending | 2860 Michelle Drive, Suite 140, Irvine, CA 92606
Direct 714-464-8042 | 877-318-0992 x6502 | Fax 866-394-9352
Email | tony@vqlending.com
Website | www.visionquestlending.com
TRUE NO CLOSING COST LOAN OPTION
PROGRAM RATE APR* FEES
Conventional 30 yr. Fixed 3.375% 3.375% $0 (None)
Conventional 15 yr. Fixed 2.875% 2.875% $0 (None)
March should be another stellar month for mortgage rates.
Mortgage rates will continue to fluctuate based on developments in the fight against the coronavirus, also called COVID-19.
In February, markets were watching the spread of the virus, with new cases being discovered in many countries outside China. Mortgage rate watchers are justified in wondering how a virus could affect rates. The relationship is not exactly obvious. Mortgage rates fall during times of economic uncertainty and lower expectations of inflation. The coronavirus contributes to both.
Additionally, economic growth could slow on a global scale as factory production slows, people travel less, and overall activity lessens. In mid-February, Apple, one of the world?s largest companies, announced it would miss revenue projections for the quarter. It blamed factory closings in China and a slower return to normal conditions than expected.
Furthermore, demand in China slowed, as people were hesitant to enter stores.
Apple is just one indicator of how a larger outbreak could slow the pace of the global economy.
Of course, no one wants a global health situation, but one unexpected outcome could be lower rates through March and perhaps beyond.
Now could be the time to lock in a low interest rate in case these events push up rates this month.
BBB A+
Apply online:http://visionquestlending.com/free_quote/
Tony Nguyen | NMLS#93776
Vision Quest Lending | 2860 Michelle Drive, Suite 140, Irvine, CA 92606
Direct 714-464-8042 | 877-318-0992 x6502 | Fax 866-394-9352
Email | tony@vqlending.com
Website | www.visionquestlending.com