According to an MSNBC report national mortgage rates are at a low level. This shift is in response to the market trend. Fewer sales are affecting multiple industries. In Las Vegas we have met with Title and Escrow officers who have felt the brunt of fewer opened escrows as well as a higher number of cancelations due to great deals that turn up while a buyer is in the middle of an existing escrow. Lenders are also doing all they can to land a deal here and there. It's not like a few years ago when any newby could land multiple deals a month and easily stay afloat. It is a professional's market.
Those who are wise recognize a great opportunity and take advantage of great deal available in the market.