Mortgage Rates Hold Steady as Stocks Stabilize

Mortgage rates held relatively steady today, finally leveling off after two solid days of improvement driven by the week’s big stock market sell-off.  Stocks and rates don’t always move in the same direction at the same time, but when stocks make a big move lower, rates tend to benefit.  This week’s move lower in stocks was the 3rd largest since the financial crisis.  In that light, we only saw a mere token of improvement for mortgage rates, but we’ll take what we can get considering it was the only meaningful drop in rates since August 10th….(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