Mortgage Rates: Sharp Improvements

We experienced some wild price swings today but consumer borrowing costs improved in the end. In many cases those improvements were significant.

CURRENT MARKET*: The BestExecution 30-year fixed mortgage rate is between 4.00 and 4.250%. More lenders are willing to offer 4.00% and 4.125% is widely available. On FHA/VA 30 year fixed BestExecutionis 4.00%. Some lenders are willing to quote 3.875% without extra closing costs. 15 year fixed conventional loans are best priced at 3.625% but we're seeing aggressive quotes as low as 3.375%. Five year ARMs are still best priced at 3.25. ARMs seem to have bottomed out.