The 30-year fixed averaged 3.79 percent in 2016. It averaged 3.99 percent in 2015, and 4.3 percent in 2014.
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Some borrowing advice
This is one of the quietest weeks of the year for mortgage applications. This run-up in interest rates has dampened refinance activity, so this final week is even slower than usual for mortgage lenders. That means you might get a nice level of personalized attention or you might find that some important people are on vacation. Or a combination.
"Communication shouldn't be too different even during a week that is bookended with holidays," says Shaun Guerrero, branch manager for Alterra Home Loans in Silverdale, Washington. "However, if the process has had some turbulence, a good idea to do is be proactive in the process."
What he means: "Send an email to your lender communicating your closing date and any concerns that you may have regarding timing, and ask if there is any reason the closing date may not happen on time." He also recommends asking if anyone is going on vacation and who will handle communications during that time.
Another recommendation from Guerrero: "After you send the email, send a text message to your lender and agent, saying, 'Sent an email to you regarding closing.' The best thing you can do is be upfront and keep communication going."
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