Mortgage rates were mixed today, depending on the lender. The underlying bond market (which dictates day to day changes in rates) has been more volatile in the past 48 hours compared to the past 4 weeks. Mortgage lenders respond to this volatility in different ways. It’s those differences that account for higher rates for some lenders and lower rates for others.
But those differences are only in day-over-day terms. In other words, one lender might be higher in rate compared to yesterday only because they didn’t respond to yesterday’s market volatility in a timely way. Specifically, lenders have a choice as to whether or not they will adjust their mortgage rate offerings based on market conditions. Some are jumpier than others. …(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
Source: mortgagenewsdaily.comNew feed
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Published in bond markets, interest rates and mortgage rates
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