Mortgage Rates Give Back Only Some of Friday’s Gains

Mortgage rates moved slightly higher today, erasing only some of the massive improvements seen after last Friday’s jobs report. In general, most lenders moved one-eighth of one percentage point lower in rate on Friday. Today’s weakness isn’t enough to raise rates by an eighth of a point, so instead, the weakness comes in the form of slightly higher upfront costs for the same rates as Friday. The most prevalently-quoted conventional 30yr fixed rate remains 3.625% on top tier scenarios for most lenders, though a few of the less aggressively-priced lenders are quoting 3.75%. It should be noted that 3.625% is the lowest stably-held 30yr fixed quote in more than 3 years. We’ve seen rates move low…
Mortgage Rates Newsletter – Market Analysis

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