Mortgage Rates Moderately Higher

Mortgage rates were moderately higher today, ending a 4 day streak near the lowest levels in more than 5 months. To be fair, the streak isn’t technically over if we’re only looking at the quoted contract rates (or “note rates”). Most lenders continue to quote conventional 30yr fixed rates in the 3.75% to 3.875% range. The rise would instead be seen in the form of higher borrowing costs or lower lender credit. There was no major motivation for today’s mortgage market weakness although the stronger economic data didn’t help. When economic reports are stronger than expected (such as this morning’s Housing Starts , which came in at 1.206 million vs a median forecast of 1.15 million), it tends to…
Mortgage Rates Newsletter – Market Analysis

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