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FHFA Authorizes Principal Reduction for Fannie/Freddie; Rates End Week Just Off Recent Lows

FHFA Authorizes Principal Reduction for Fannie/Freddie; Rates End Week Just Off Recent Lows

Mortgage rates improved slightly today , bringing them back toward the lowest levels in nearly three years. With all of the headlines to that effect yesterday, it's worth taking a moment to clear up. The only mortgage rates that officially hit three-year lows this week were those reported via survey to Freddie Mac during a Monday-Wednesday time window. There have been some exceptionally strong Thursdays and Fridays over the past three years though! Especially this past February, and at the end of January 2015. Clients who got calls from their loan officers on those days got rates that were lower than what they'd have access to today on the same scenario. In other words, we're not quite at the lowest rates in nearly three years, but we're close. And in any event, only a handful of days have
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