Mortgage Rates Calm Ahead of Long Weekend

Posted To: Mortgage Rate Watch

Mortgage rates were sideways to slightly lower today, depending on the lender. Financial markets closed early for Memorial Day weekend, and will be fully closed on Monday. As such, lenders won't be updating rate sheets again until Tuesday. Today's rate sheets aren't too terribly different from yesterday's. Most lenders are unchanged and a few are offering just slightly lower costs for the same "note rates" seen yesterday. The most prevalently-quoted conventional 30yr fixed rate continues to be 3.75% on top tier scenarios, but there are several lenders at 3.625%. The financial markets that underly mortgage rate movement are in a tricky spot at the moment. Investors are weighing the possibilities of a Fed rate hike in June or July. Although mortgage rates don't move in lock-step with the Fed...(read more)

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