Posted To: Mortgage Rate Watch
Mortgage rates have now given back the ground gained after Friday’s big jobs report. To put that in perspective, rates are now modestly higher than the 2-month lows seen on Friday morning. Today’s rates are more in line with Thursday’s, though most lenders are still in slightly better shape. That said, the most common conventional 30yr rate quote for top tier scenarios is on a fence, and many borrowers may find themselves on a different side today. Whereas Friday saw widespread availability of 3.625%, many borrowers have moved up to 3.75% today, albeit with lower closing costs. Borrowers still seeing the same rates as Friday would be seeing the weakness in the form of higher closing costs. Motivation for today’s market movements was in short supply. It certainly wasn’t the kind of day where…(read more)
Via:: Mortgage Rates Bounce Higher, Erasing Friday’s Gains
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