Mortgage Rates Stay Flat, But Risks Will Increase From Here

Mortgage rates were only modestly higher today.  Most lenders were still quoting the same rates compared to Friday with the only difference being slightly higher upfront costs.  This means the rate at the top of the average mortgage quote is still within striking distance of the lowest levels since September 2017.
Rather than focus on the journey that has already occurred for rates, it’s quickly becoming important to focus on the path ahead.  Reason being: rates have generally been flat for more than 2 weeks now.  This is incredibly uncommon given the pace of improvements in the several weeks before that.  With the Federal Reserve releasing a policy announcement and updated forecasts on Wednesday (both hotly anticipated by financial markets), it seems clear that the sideways momentum in rates is due to anticipation of a breakout….(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