Mortgage Rates Highest in More Than a Week

Mortgage rates moved higher again today, even though underlying bond markets were relatively flat.  This is due to the timing of market movement over the past 2 days in conjunction with typical mortgage lender pricing conventions.  Specifically, bonds weakened steadily throughout the day yesterday.  Bond weakness implies higher rates, but not every lender will go to the trouble to adjust their rate sheet offerings unless the move is big enough.  Even then, bonds can continue to weaken even after some lenders make mid-day adjustments….(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