Mortgage Rates Drop Sharply, Hitting Lowest Levels Since Mid-September

Mortgage Rates Drop Sharply, Hitting Lowest Levels Since Mid-September Mortgage rates had been in a holding pattern for nearly 3 weeks following the November 10th CPI inflation data. On that single day, the average 30yr fixed rate fell by a record amount (as far as day-over-day record keeping is concerned, and we don't have daily records prior to 2009). That took rates from the low 7s to the mid 6's in a matter of hours and there they've stayed until this morning. The average borrower would be seeing rates that are 0.25% lower versus yesterday morning at the average lender Friday brings the important Employment Situation (the official jobs report from the Department of Labor). All other things being equal, that would make for another good day for rates.

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