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Mortgage Rates Still Solid Despite Warning Signs

Mortgage rates were sideways to slightly lower today, depending on the lender.  That presents something of an opportunity because underlying bond markets have been suggesting a move in the other direction over the past few days.  In other words, the bonds that underlie mortgage rates have weakened, but rates themselves are stable or stronger.
Much of this paradox has to do with the time of day that lenders generate their rate sheets.  For example, if rate sheets were updated in real time, we might be seeing slightly higher rights this afternoon.  With all of the above in mind, today’s relatively lower rates are compelling for those who are in a position to lock.  If nothing changes about underlying markets by tomorrow morning, most lenders will likely be slightly worse off.  Of course, “worse” is a relative term, because today’s rates are in line with 2-month lows.  On the other hand, the overall range has been very narrow over that 2-month time frame….(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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