From my friend Dave Towne...
In case you’ve not been following mortgage lending rates activity, the nation again is very close to what we experienced in 2nd quarter 2013.
Here’s a link to a Mortgage News Daily e-newsletter article today (2/11/16)….
From the article:
Mortgage rates were widely available at 3.5 percent for much of the day today. At any other time from the middle of 2013 through the end of 2015, that's not something that very many people thought they'd be able to say (or read, or think!). A few lenders had been dabbling in quoting conventional 30yr fixed rates of 3.5% earlier this week, but today saw a majority of lenders join that adventure--at least in the morning.
15 year rates are even lower.
I have also been reading that mortgage refi applications have been increasing lately, spurred on by these incredibly low rates.
So we should begin to see an increase in assignments again. But who knows for how long?? My crystal ball has a crack in it and doesn’t predict the future very well any longer!
Dave Towne, AGA, MNAA
Certified Residential RE Appraiser