Mortgage Rates Slightly Lower Ahead of Fed

Mortgage rates fell modestly today, but remained well inside the narrow range that’s been intact for more than a week. For most lenders, that means conventional 30yr fixed quotes of 4.0-4.125% on top tier scenarios. Most borrowers will continue to see day-to-day changes in the form of minor adjustment to upfront costs. Narrow ranges in financial markets speak to indecision or an unwillingness to take too much of a stand ahead of potentially important developments. In the case of the current narrow range (which affects stocks as well as bonds), markets may be waiting for one of several big-ticket events in the coming days. The most immediate possibility is tomorrow’s Fed announcement. While t…
Mortgage Rates Newsletter – Market Analysis

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