Archived market update — August 27, 2020. The mortgage-rate and closing-cost statements below describe market conditions on the original publication date. They are not current offers, rate quotes, or a prediction of current mortgage pricing. For current planning, contact NorthStar Funding for a review of your specific situation.
Mortgage rates stayed in line with recent 4-month lows today. In some cases, there was a slight movement in the closing costs associated with prevailing rates, but the rates themselves didn’t change. The most prevalent Conforming 30yr fixed quote (best-execution) remained at 4.125%.
Every day since last week’s jobs report has been relatively calm for mortgage rates. Even then, there was reason to believe that we could be lacking some direction until the next major round of economic data came in. That culminates in next week’s jobs report (which is occurring so close to the previous report due to shutdown-related rescheduling), but the current week can certainly play a role.