“The average rate on the 30 year fix rose 10 basis points today 7.56% according to Mortgage News Daily”
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Said on Closing Bell
“You get 100 basis point decline in mortgage rates, you're almost down 10% in monthly payment.”
On The Tape with Danny Moses · Ivy Zelman: The Queen of Housing Still Reigns
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What was described
stated that a 100 basis point decline in mortgage rates is almost a 10% drop in monthly payment
100 bps decline → ~10% monthly payment drop
Said nearby on the same subject
“Typically it's a 50 basis point rule of thumb that if you see a decline of 50 basis points, you'll start to see refis kicking in”
♫
Said on On The Tape with Danny Moses
“We did that with university students before they went to university and it dropped their dropout rate 50%. 90 minutes of writing, dropped their dropout rate 50% and raised their grade point average 35%.”
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