Posted To: Mortgage Rate Watch
Mortgage rates managed a fairly uneventful day despite the presence of some bigger-ticket events. Actually, those events turned out to be the reason that things didn’t move much. Until then, underlying market conditions were trending weaker for the mortgage-backed securities that dictate mortgage rates. They bounced back after the afternoon’s 10yr Treasury Auction and the release of the Minutes from the most recent Fed meeting. The net effect on rate sheets was minimal, but the average lender is just a hair better than yesterday’s latest offering. The most prevalently-quoted conventional 30yr fixed rate for top tier scenarios remains 3.75% with a few lenders down to 3.625%. Rate sheets are roughly in line with those seen on April 2nd. As for the Fed Minutes–arguably the most interesting item…(read more)
Via:: Mortgage Rates Sideways After Fed Minutes
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