Mortgage Rates Edge Higher, But Remain in Low Range

Posted To: Mortgage Rate Watch

Mortgage Rates were slightly higher again today, marking the second day spent pulling back from a nice move lower that followed last week's Fed announcement. Although mortgage rates aren't directly influenced by the Fed Funds Rate itself, quick changes in the expected course of central bank policy can cause volatility for most any lending rate. This has been the case over the past 2 weeks. Rates moved quickly higher after various speeches from the Fed and the European Central Bank earlier this month. The recent move lower brought rates back into the range that dominated most of July and August. The past 2 days of weakness haven't been big enough to threaten that range. The conservative approach would be to consider yourself lucky that rates made it back to current levels and lock accordingly...(read more)

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