At the beginning of the year, the conventional wisdom was that mortgage rates on the 30 year fixed would drop to around 4.5% at some point and then move higher.  Well, the conventional wisdom was mostly right this time.  They have touched 4.5% this year but have drifted lower in three distinct moves with the most recent hitting record lows last week   Currently the 30 year according to bank rate average around 4.97 with the 15 year fixed at about 4.25%.  To obtain the rates, an average of 1.17% point was charged.  A good source for rates is www.bankrate.com

Many have already refinanced this year, but for those that haven’t now is another opportunity