Mortgage Rates Mostly Hold Near Lows, But Things Could Change Tomorrow

Mortgage rates moved microscopically higher today, depending on the lender.  In terms of underlying movement in the bond market, however, rates should have risen a bit more than they did.  This has to do with the timing of the bond market weakness and the amount of movement lenders typically want to see before changing their mortgage rate offerings for the day.  Simply put, weaker bonds suggest higher rates, but bonds didn’t weaken fast enough for most lenders to see their “re-price” threshold.  
All of the above means that most lenders continued to offer rates that were very close to the lowest levels in more than a year.  Only a handful of days have been any better, and all of them have occurred in the past 2 months.  …(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