2009 Mortgage Rates: Seasonal Adjustments Need Not Apply
Different times of the year can establish different ranges for mortgage rates. Most recently, the low of 5.03% observed on May 26 and the peak of 5.81% on June 11 have have established the extremes of the range we expect Conforming rates to remain in for quite some time.
At the close of business yesterday the 30-year Conforming rate finished at 5.49%, according to HSH.com. Last week the same rate finished at 5.51%. A tiny move of only two basis points isn’t uncommon during the summer when markets tend to get quiet.
