Mortgage Rates Hold Recent Lows

Posted To: Mortgage Rate Watch

Mortgage rates avoided returning to reality yet again today. In other words, rates were almost perfectly unchanged for the 4th straight business day. These patterns (or lack thereof) are fairly typical of the thanksgiving time frame, but the return of volatility is a bit of a moving target after that. Clearly, we're not there yet. That's a good thing in the recent context because it means rates are still operating at their lowest levels in more than a month. It's a bit more unpleasant in the broader context because it means rates are showing little desire to move much lower from their highest levels since 2011 (seen at the beginning of the month). In non-rate-related news, the FHFA--Fannie Mae and Freddie Mac's regulator--announced higher conforming loan limits , from $453,100 to $484,350....(read more)

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