Posted To: Mortgage Rate Watch
Mortgage rates moved modestly lower on average today after doing an admirable job of holding their ground amid weaker market conditions yesterday. That weakness was largely the result of a technical correction to the immense strength seen after Wednesday’s Fed Announcement and Press Conference. The following two days have essentially legitimized that strength as something other than a temporary knee jerk reaction. While that legitimacy doesn’t necessarily guarantee rates move lower from here, it guarantees that lower rates remain possible. While it’s true that rates can always move lower, that wouldn’t be as likely if the past two days saw a quick move back to pre-FOMC levels. Most lenders are now quoting a conventional 30yr fixed rate of 3.75% for top tier scenarios. There’s more consensus…(read more)
Via:: Mortgage Rates End Week at March Lows
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