Mortgage Rates' False Sense of Security The recent dip in mortgage rates has brought a welcome respite to prospective homebuyers.
However, it's essential to examine the bigger picture and the potential pitfalls that come with these seemingly favorable numbers.
One striking aspect of the current market is the disparity between purchase and refinance rates. According to Zillow data, 30 year purchase fixed rates are 13 basis points lower than their refinance counterparts.