Mortgage Rates Hold Steady Despite Improving Markets

Posted To: Mortgage Rate Watch

Money came into both sides of the market today. Stocks are set to end the day with gains, as are Treasuries and MBS, the Mortgage-Backed-Securities that most directly influence lenders’ rates. Despite improvements in underlying bond markets, Mortgages Rates were almost perfectly flat today . Some lenders in our survey were slightly improved while others offered slightly higher rates today. The net affect was that the average among all lenders in our survey is the same as yesterday. Keep in mind that although we’re talking about “rates” moving up or down, the actual interest rates quoted by lenders will likely not have changed from yesterday, depending on your scenario. The detectable differences would come in the form of the costs associated with those rates. If we say “rates improved,” it…(read more)

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