Posted To: Mortgage Rate Watch
Mortgage rates continued a recent pattern of small day-to-day changes today. This time, however, lenders were more unified in a move to slightly lower rates. The recent norm has been for different lenders to move in different directions but for the average to stay fairly close to unchanged. 3.625% remains intact as the most prevalently-quoted conforming 30yr fixed rate for top tier scenarios. A few lenders are already back down to 3.5% though the costs are still a little higher than they were two weeks ago. This morning’s economic data provided an initial boost for rates markets as the important Durable Goods report was much weaker than expected. Weak economic data tends to benefit bond markets and hurt stocks. That said, stocks were already arguably under pressure related to earnings season…(read more)
Via:: Mortgage Rates Improve Modestly Ahead of Fed Announcement
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