Mortgage Rates Slightly Lower to Begin Week

Posted To: Mortgage Rate Watch

Mortgage rates fell modestly today , keeping rates near the lower end of the range seen since January 18th. The catch is that rates moved sharply higher on the 18th, and from there, you'd have to go back to late December to see anything higher. Simply put, we're at the lower end of the recently higher range. Combine that with the potential volatility this week from several important economic reports and there's a good case to be made for "playing it safe" with respect to locking vs floating. 4.25% remains the most prevalent quote on top tier conventional 30yr fixed scenarios. Loan Originator Perspective As of midday Monday we find interest rates not willing to commit in either direction until the major data of Wednesday-Friday. We may get a hint here and there of the consensus, but until the...(read more)

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