Mortgage rates are continuing to improve, with rates reportedly down approximately 3% from their recent highs, according to mortgage professional Dave Steinberg in this week’s Rate Watch update.
In this video, Dave discusses why improving mortgage rates could create opportunities for homebuyers, why buying a home may still make sense despite market volatility, and why buyers currently under contract should consider locking in their mortgage rate sooner rather than later.
Dave also explains the potential benefits of a mortgage rate float-down option, which may allow borrowers to take advantage of lower rates if they improve while helping protect against rising rates, depending on the lender’s terms and conditions.
If you’re planning to buy a home or are already under contract, this mortgage rate update can help you understand your options and make more informed financing decisions.
Mortgage rates fluctuate frequently. Rate-lock and float-down options vary by lender and loan program. Consult your mortgage professional for current rates and eligibility.
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Dave Steinberg NMLS: #67325 Mortgage Broker Summit Funding
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Connect with me:
Office: 718.575.1166
Email: dave@summitfunding.com
https://summitfunding.com
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Summit Funding | Registered Mortgage Broker (NMLS #52081) New York State Department of Financial Services
7030 137 Street, Kew Gardens Hills, NY 11367
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