Mortgage rates haven’t really moved for 9 straight business days. Some lenders have seen microscopic improvements during that time, but the average lender is still quoting the same rates and fees seen on August 13th.
The underlying bond market is part of the problem. Bonds–which dictate rates–haven’t been too interested in responding to conventional inputs. The bonds that underlie mortgages are especially guilty (compared to, say, US Treasuries which are more willing to respond to news and events at the moment). …(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
Mortgage Rates Extend Steady Streak
Published in bond markets, interest rates and mortgage rates
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