Mortgage Rate Volatility Decreases

Lately, mortgage rates have been rather volatile, changing rapidly and making things difficult for mortgage rate shoppers. However, some of the volatility has smoothed out quite a bit — even just from October to November. It looks as though things might be a little more stable going forward. The Mortgage Reports blog offers this about mortgage rate stability:

Until jobs returns, or until news convinces investors otherwise, mortgage rates should remain somewhat stable. This isn’t to say that rates won’t rise, but if they do, you won’t have to get frantic about it.  You’ll have an hour or two to get your rate lock in.

Two months ago, that wouldn’t have been the case — you’d have had 8 minutes.

This means that holding out for a mortgage rate might not be the best strategy. But you will have some time to think it over before you commit yourself.