Posted To: Mortgage Rate Watch
Mortgage rates bounce higher today on average. Some lenders remained close to unchanged, but they generally were the same lenders that hadn’t improved as much by the end of the day yesterday. In the bigger picture, today’s weakness in rates is a minor correction in a longer-term trend toward lower rates. Case in point, yesterday afternoon’s rates were near 2-month lows, and with the exception of several weeks earlier this year, current rates are the lowest in nearly 2 years. Some lenders are still offering conventional 30yr fixed rates of 3.625% on top tier scenarios, but the average lender is back to 3.75% today. Tomorrow brings the exceptionally important Employment Situation Report (aka “the jobs report,” nonfarm payrolls, or simply, “NFP”). This is, by far and away, the most significant…(read more)
Via:: Mortgage Rates Rise Ahead of Important Jobs Report
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