Mortgage Rates Begin Week Higher

Posted To: Mortgage Rate Watch

Mortgage rates were slightly higher today relative to last Friday's levels, leaving them near the 2-year highs seen last Thursday. Volatility continues to run much higher than normal, with lots of intraday reprices (lenders changing rates in the middle of the business day) over the past 2 weeks, and generally big changes from day to day. Bond markets (which underlie mortgage rate movement) began the day in much weaker territory, but managed to make some huge improvements heading into the afternoon. As such, most lenders were quoting higher rates this morning before repricing to slightly lower rates as the day progressed. To be clear, that's "lower vs this morning." Even after the improvements, we're still not back to Friday's levels. That said, most borrowers would still be seeing the same...(read more)

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