Press "Enter" to skip to content

Mortgage Rates Mostly Flat Despite Stronger Bond Market

Mortgage rates are mostly determined by the trading levels of mortgage-backed bonds on the open market.  When those bonds improve, mortgage rates move lower, all other things being equal.  For a variety of reasons, that typical relationship has been hit and miss on any given day since the pandemic began.  Today is a milder example.  Bonds improved, but the average mortgage lender is offering rates that are nearly unchanged versus yesterday.
The trade-off is that mortgage rates stayed much lower than the bond market suggested for most of the rest of the month of October.  In other words, mortgage rates have been hesitant to move higher OR lower relative to the bond market’s suggestion.
 …(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

Be First to Comment

    Leave a Reply

    %d bloggers like this: