Posted To: Mortgage Rate Watch
Mortgage rates barely budged yet again today despite more volatility in underlying financial markets. This is the 3rd day in a row with similar behavior in interest rates, and part of an even broader trend of minimal movement since the beginning of the month. If there was a detectable bias today, it was just microscopically higher in rate, but all lenders will still be quoting the same contract rates as yesterday. Adjustments would be in the form of slightly higher upfront costs. The most prevalently-quoted conventional 30yr fixed rate for top tier scenarios is 3.625%, though 3.75% is not far behind. As we discussed yesterday, the longer we go without breaking below this current floor, the more it makes sense to favor locking . Rates could move quite a bit higher without technically exiting…(read more)
Via:: Mortgage Rates Are Really Stuck in a Rut
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