No, Mortgage Rates Aren't Lower Today!

It’s Thursday on a volatile week for the bond market and thus time, once again, to play our favorite game: “no, rates didn’t really do that.”  Sometimes, a majority of mortgage rate headlines say rates went higher when they’re really lower.  In today’s case, rates are much higher than they were yesterday morning despite multiple headlines suggesting the opposite.  Who’s right?  Who’s wrong?  And Why?
First off, timing matters.  Yesterday morning’s rates were much lower than yesterday afternoon’s rates.  This morning’s rates were higher still.  Finally, this afternoon has brought some relief, but not enough to get the average lender back to yesterday morning’s levels.  In all cases, this week’s rates are definitely not lower than last week’s….(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