It was a quiet trading session for most of the day in financial markets. Stocks rallied early in the day and lenders offered slightly worse mortgage rates vs. Friday. However stocks sold off late in the day which led to another FLIGHT TO SAFETY! Benchmark Treasury yields closed at new one year lows and MBS prices closed at new record highs.
The par 30 year conventional rate mortgage is now in the 4.500% to 4.875% range for well qualified consumers. To secure a par rate on a conventional mortgage you must have a FICO credit score of 740 or higher, a loan to value at 80% or less and pay all closing costs including an estimated one point loan origination/discount/broker fee.
It’s hard to pass on mortgage rates at these levels.