Not extraordinary, but good news nonetheless. Since the last newsletter, the qualifying benchmark rate has dropped to 4.94%, down from 5.19% before COVID-19. This means you can qualify for slightly higher mortgage, or for some folks, it actually means graduating from a B lender to an A lender. If this trajectory continues, we should see further drops. However, in my opinion, the government will not allow the buffer between contract and qualifying rate to erode too far, they always play the cautious game.