This week we all watched to see how rates changed post-2.99%.  Most lenders had increased their 5 year rates but a few are still quite low.  The four year terms were equally active since most lenders had 2.99% as a 4 year offering so adjustments were needed.  All 4 year rates are now above 3% with the best one at 3.09% offering full prepayment options.

Most consumers are finding it hard to accept the new rates, but with spreads as thin as they are, there simply isn’t the margin to offer the promotional rates anymore.