if anyone is buying it may be a good time to lock. If anyone is refinancing I have to question your judgement in not doing it anytime in the previous 24 months (before April 2022 when rates skyrocketed).
30 year fixed dropped to 6.62% from almost 8% yesterday. I dont know that i have ever seen a downward price adjustment that big in one day.
The reason is the CPI report that came out today showing inflation is stabilizing. Banks are pushing Home Equity Lines of Credit hard since most people dont want to refinance their 3% mortgage.
Why would anyone buy today when prices are going down. Refi? Most people have 3% mortgages if they were smart the last three years And the average rate yesterday was 7.25. not 8%. Where do you shop?