Mortgage Rates Slightly Higher After Mid-Day Change

Posted To: Mortgage Rate Watch

Mortgage rates began the day in decent shape relative to last week. The average lender's rate/fee combo was at least as low as it had been on Friday. As the day progressed, however, underlying bond markets continued to weaken . For many lenders, it was enough to make mid-day changes to rate sheets. Affected lenders ended up slightly worse off compared to last Friday. Lenders who didn't reprice today are starting the day out at a disadvantage tomorrow. In other words, if bonds don't change between now and tomorrow morning, those lenders would have to move rates a tad higher. All that having been said, tomorrow is a half day for financial markets due to Independence Day on Wednesday (markets will be fully closed on Wed). Lenders tend to be more conservative with rate sheets surrounding holiday...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Mortgage News Daily https://ift.tt/2KFCRiA