Mortgage Rates Slightly Higher Ahead of Jobs Data

Mortgage rates rose modestly today, despite improvements in underlying bond markets. This was in line with our discussion about “the catch” associated yesterday’s improvements. Specifically, bond markets had weakened enough in the afternoon to suggest higher rates, yet many lenders didn’t adjust yesterday’s rate sheets. As such, we expected to see that weakness baked-in to today’s rate sheets and indeed it was. In other words, rates were more likely to start out higher today, all other things being equal. All that having been said, we’re talking about a very small change in a very small range . The average lender continues to quote conventional 30yr fixed rates of 3.75% with some of the stro…
Mortgage Rates Newsletter – Market Analysis

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