Mortgage Market Update

The best use of mortgage indexes is to compare the CHANGE (or spread) from one day or week to another. Rates for these mortgage market reports are reported based off best case credit and down payment scenario, and typically a range of 1%-2% discount points to get the rate, not PAR (no cost). However, because the same baseline scenario is used year over year, this provides the best representation of rate movement in the market.

Note: There are multiple factors that can cause rate variability such as borrower profile, lenders, available programs, discount points, market speculation, etc.