Mortgage Rates Slightly Higher After Treasury Auction

Mortgage rates continued slightly higher today , though they appeared to have second thoughts about that at first. In fact, several lenders made mid-day improvements to rate sheets as bond markets (which drive rates for mortgages, among other things) looked to be holding their ground. Bonds began to slide in the afternoon, following a weak 5yr Treasury Auction. As a result of that weakness, several lenders raised rates in the afternoon while others simply abstained from offering a mid-day improvement. The net effect is a conventional 30yr fixed rate range of 3.875%-4.0% for top tier scenarios. In most cases, borrowers would be seeing the same rate compared to yesterday, but with slightly hig…
Mortgage Rates Newsletter – Market Analysis

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