Where readers ask and we try to answer.
How are 30 year fixed mortgage rates calculated? My Real Estate agent said that it is an average of the trailing 12 month’s surveys by WSJ and BankRate.com, can someone confirm this?
As soon as a mortgage professional chimes in, we’ll post the answer here. Since we’re a bit busy, it may not be up right away, so check the comments.
Kelly McCray responds: “30 year fixed rates are based on what mortgage BONDS are selling for at any given moment.”