Mortgage Interest Rates - Reader Question

We received this question from a reader here at Truthful Lending regarding yesterday’s article about current low mortgage rates:

“I have something I’m a little confused on. Your article today, mentioned rates are in the low 4%’s, but the interest rates you have displayed on the left side of your site says those same rates are actually in the low 5%’s. What’s up with that?

Thanks,
Todd Riemer”

Well thanks for your question Todd and there are two answers to that question. First, the rates shown on in the table on this site’s left sidebar are from Freddie Mac’s National Primary Mortgage Market Survey, which means they are average rates throughout the nation…rates in your locale may be a bit different.

The second, and biggest reason for the discrepancy, is that Freddie Mac conducts that survey weekly, and the rates represent the data collected from the week prior. If any big drop in rates occurs over the course of a few days, like we saw this week, it won’t be reported until the following week’s survey results have been released. Freddie Mac releases its results on Thursdays, so you should expect to see the changes reflected in that chart next week.

Thanks again, Todd, for your question.

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