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Mortgage Rates Inch to Week's Best Levels

Mortgage rates fell again today, bringing the average rate just slightly lower on the week.  Unlike the past 2 days, there were no big ticket calendar events today.  Instead, motivation came from market jitters of new tariff announcements and the ensuing retaliation from China.  Markets ultimately decided it wasn’t the end of the world (yet) and bounced back in the other direction (higher stocks, higher rates) during the 2nd half of the day. 
Fortunately, the bounce in rates (via the bond market) wasn’t big enough to force mortgage lenders to adjust their rate sheets for the worse.  That knife cuts both ways though.  If bonds were to merely hold flat by the start of Monday’s trading, the implication would be for slightly higher rates to begin the day….(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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