Mortgage rates rocket to lowest in a year

Mortgage rates

Mortgage ratesBy Matthew Graham | Mortgage News Daily

Mortgage rates dropped significantly today, officially hitting the lowest levels in almost exactly 1 year. For most lenders, that means a conventional 30yr fixed rate quote of 3.625% for top tier borrowers, though there are still quite a few lenders at 3.75%. That’s an important point to keep in mind today as several lenders are still much closer to Friday’s rates. Even then, a “significant drop” will mean different things depending on your point of view.

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Related: 8-minute mortgage? Quicken CEO defends Super Bowl ad controversy/Yahoo Finance

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