Posted To: Mortgage Rate Watch
Mortgage rates were mixed today depending on the lender, but moved just slightly lower on average. This wasn’t the case this morning as essentially all lenders came out with noticeably lower rates following the weaker-than-expected Retail Sales report. As the day progressed, early gains in bond markets faded, especially after the afternoon’s 30yr Bond auction. While that refers to 30yr Treasuries, the goings-on in the Treasury market always have some effect on the mortgage-backed-securities that dictate mortgage rates. Today was no exception, and as prices fell into the afternoon, most lenders ‘repriced’ to higher rates. The fact that some lenders have yet to reprice likely accounts for the discrepancy between them. If we assume that non-repricing lenders will either reprice before the end…(read more)
Via:: Mortgage Rates Steady Near March Lows
Share this article
