Mortgage Rates Stay Steady

Posted To: Mortgage Rate Watch

Mortgage rates were unchanged to slightly lower today, which is a major victory considering how yesterday left off. Specifically, bond markets had weakened significantly in the afternoon. Weaker bonds coincide with mortgage lenders raising rates, but only if there's enough weakness early enough in the day. Yesterday's pace resulted in some lenders raising rates right away while others put it off until this morning. All of the above meant that bond markets would have to have an amazing night in Europe and Asia if rates were to do anything other than move higher today. And that's exactly what happened (the amazing night in Europe and Asia). While this doesn't mean we're out of the woods in terms volatility going forward, it does mean we caught a friendly break. When such breaks occur near the...(read more)

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from Mortgage News Daily http://bit.ly/2EO1Z6G