Mortgage Rates Sharply Sideways

Posted To: Mortgage Rate Watch

Mortgage rates haven't moved much at all recently. While that leaves us little to talk about if we're examining rate changes on a daily basis, it's a fair trade when the lack of movement is keeping rates in line with the best levels since November 2016. Only a handful of days have been any better than today, and all of them were recent. Moreover, most lenders didn't move enough from yesterday for there to be any detectable difference in today's rate sheets. In other words, it's just another day with the lowest rates of the year. What's it going to take for this to change? After all, it's not likely to go on forever. In part, the sideways grind is a symptom of the summertime trading environment for bond markets (which underlie mortgage rates). Traders tend to take stronger stands heading into...(read more)

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