Most lenders have now moved under 6% on their best 5-year fixed rates. There’s still a way to go, however, before fixed rates return to their normal 1.10% spread over 5-year bond yields. 5-year yields are currently at 3.47%.
Bankers Acceptance rates (which impact variable mortgage rates) have fallen from 4.70+% in December to just above 4% today. That’s the lowest they’ve been since April 2006.
60 Minutes shows how Americans are increasingly leaving their keys on their lender’s doorsteps. Howe St. Article