The "Best Execution" conventional 30-year fixed mortgage rate has fallen yet again. This time from 4.625% to 4.50%. In some cases, 4.375% can make sense, but will involve increased closing costs. This could be worth it to applicants who plan to keep their new mortgage outstanding for long enough to breakeven on the extra upfront costs. On FHA/VA 30 year fixed "Best Execution" had been between 4.375% and 4.25%. Today's improvements put the focus solidly on 4.25%. 15 year fixed conventional loans are now best priced at 3.75%. Five year ARMs are best priced at 3.125% but the ARM market is more stratified and there is more variation in what will be "Best-Execution" depending on the individual credit scenario.
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