Mortgage Rates Lower Overall This Week, But Higher Today

Posted To: Mortgage Rate Watch

After improving yesterday, Mortgages Rates moved higher today , falling roughly in line with mid-week offerings depending on the lender . The weakness was abrupt, arriving late in the day, but was not scarcely enough to affect the current Best-Execution 30yr Fixed Conventional Rate of 4.0%. That means the weakness was seen in the form of slightly higher closing costs. Buydowns to 3.875% remain too steep to make sense for most borrowers, and would need to get closer to the buydown that currently exists from 4.125% to 4.0% in order to vie for the Best-Execution title. That said, some lenders would be able to structure scenarios lower than 4.0%. (read more about Best-Execution calculations ). Today’s market movements essentially played out according to the concerns we raised yesterday. This doesn…(read more)

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