Rates Remain Higher Despite Afternoon Recovery

Posted To: Mortgage Rate Watch

Mortgage rates moved higher for the 6th time in the past 7 business days, even after several lenders offered mid-day improvements in the afternoon. That leaves them at their highest levels of the year, although things were worse for most lenders earlier this morning. 4.25% remains the most prevalent quote on top tier conventional 30yr fixed scenarios. Like yesterday, a few more lenders moved up to 4.375%. It continues to be the case that there is little rhyme or reason to the short-term market movements causing volatility for rates. The bigger picture themes are more relevant. Those themes suggest a trend toward higher rates has taken shape although the implications would be more severe if rates break above mid-December's highs. While we're not there yet, it's safest to assume that's where...(read more)

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