Mortgage Rates Not Exactly Lower This Week

Posted To: Mortgage Rate Watch

Mortgage rates were mixed today, depending on the lender, but generally held fairly close to yesterday's levels. All this in spite of bond market weakness (which normally pushes rates higher). The discrepancy can be chalked up to a delay between market movements and lenders' reactions that's been increasingly prevalent during the summer months. In other words, lenders still hadn't fully responded to yesterday's bond market strength and were thus able to absorb today's weakness in many cases. On a more interesting and perhaps more important note for confused mortgage rate shoppers, today is Thursday. That means it's time, again, for Freddie Mac's weekly mortgage rate survey--an industry benchmark that's quoted by multiple news outlets. Unfortunately, most of the stories fail to drive home the...(read more)

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