April 2020 Mortgage Rates:
Ok so it’s May and I didn’t post April’s Mortgage rates….here you go: April 2020 Mortgage Rates.
April was a crazy month for mortgage rates and the mortgage industry. The big news (obviously) was he Coronoaviirus pandemic and that had a significant impact on consumer mortgage rates. During the first week or two of the month mortgage rates continued to move higher (not by much) and things started to improve mid-April. As we finished up the month mortgage rates were right at their all time lows (set back in early March).
It’s Harder To Get A Mortgage For Some People:
If you have a big down payment (or lots of equity) and a high credit score you’ll probably see little impact to your ability to obtain a mortgage unless you are trying to get a jumbo mortgage or a rental property mortgage. Here are the ares in which it’s more difficult to get a mortgage:
- Jumbo mortgage loans
- Rental property mortgage loans
- Mortgage loans for people with credit scores below 680
Mortgage Rate Quote:
If you are looking a quote for your next refinance transaction or if you are thinking of buying a home you can contract me directly for a no-cost/no-obligation quote. Low rates, fast closings and exceptional service is what we we offer.