Posted To: Mortgage Rate Watch
Mortgage rates moved higher out of the gate for a second straight week, though today’s jump was smaller than last Monday’s. The most prevalent conventional 30yr fixed quote remains 4.0% for top tier borrowers, with a few lenders still down at 3.875% and fewer still at 4.125% Last week we talked about how the similarities in the past two weeks served as a good reminder of the risks involved with floating, but that Friday’s improvements suggested there was a better chance of consolidation. Despite today’s weakness, the chances for consolidation remain. Even after moving higher today, rates are still lower than the first four days of last week. One important thing to keep in mind is that ‘consolidation’ refers to a period of time where rates aren’t moving much that follows a sustained move in…(read more)
Via:: Mortgage Rates Begin Another Week Moving Higher
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