Posted To: Mortgage Rate Watch
Mortgage rates were steady to slightly higher today on average. Some lenders were actually slightly lower, but they were the exception. In contrast to yesterday, the bond markets that underlie rate movements were exceedingly calm, and what little movement there was came in measured doses. This sort of low-altitude, sideways bounce is a fairly common occurrence following a bigger move lower in bond markets. The distinction between bond markets and mortgage rates is important here, because mortgage lenders haven’t been able to pass along all of the gains implied by trading levels. If markets manage to calm down a bit, that means rates have some room to improve even if trading levels simply hold steady. That process can only happen gradually over multiple days and could easily be thrown off by…(read more)
Via:: Mortgage Rates Holding Near Long-Term Lows
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