That's a boost for the US housing market, which is still struggling to recover from the after-effects of an epic boom and bust.
Interest costs on a 30-year fixed-rate mortgage averaged just 4.39 percent this week, according to housing-finance giant Freddie Mac. That's the lowest level this year, and down from 4.55 percent a week earlier. (Those interest rates are for loans in which the borrower also pays a "points" fee of about 0.8 percent of the amount to be borrowed.)
Mortgage rates rallied again today and consumer borrowing costs drifted a little lower.
Deciding whether or not to lock a loan between now and the "high-risk" event on Friday is pure speculation (Employment Situation Report). If you know how that's going to turn out ahead of time and how the market will react, or if you just don't mind losing money in exchange for the chance to lower your rate a bit more, power to you! The way we see it though, if yesterday was nuts, today may be time to consider how you'll hoard your nuts.
