Mortgage Rates Drop to Lowest Levels in More Than a Week

Mortgage rates moved lower at their best pace in several weeks today, with the average lender making it back to levels not seen since April 12th.  The gains were bigger than normal for two reasons.  First, bond markets had improved slightly yesterday afternoon, but  not enough for lenders to adjust their rate sheet offerings for the better.  Thus, they had to play a bit of catch-up with this morning’s rate sheets.  The bigger factor was the additional bond market strength seen throughout the overnight trading session and well into the domestic trading hours….(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