Posted To: Mortgage Rate Watch
Mortgage rates held their ground today even as trading levels in bond markets suggested a move higher. This has to do with the heads-up I offered yesterday regarding the late-day improvement in market conditions that didn’t manage to make it onto most lenders’ rate sheets. From yesterday’s commentary: Bottom line: mortgage-backed-securities are now priced better than they were yesterday afternoon, yet the average lender is still priced worse. That suggests a bit of a head start for tomorrow morning as it’s not uncommon for a certain portion of the lender community to hold off on fully adjusting rate sheets for rapidly changing market levels late in the day. Today’s trading levels were in a good range so as to avoid major impact to rate sheets. The tone in markets was slightly supportive throughout…(read more)
Via:: Mortgage Rates Hold Steady Despite Weaker Market Conditions
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