Mortgage Rates Slightly Lower to End Week

Mortgage rates improved slightly today, on average, despite modest weakness in underlying bond markets. We discussed this possibility yesterday in that lenders hadn’t fully adjusted rate sheets to reflect yesterday’s market improvements. This isn’t uncommon during episodes of increased market volatility and it a small way, it lowers the stakes for the following day (because lenders have some room to lower rates even if markets aren’t totally cooperating). Markets didn’t fully cooperate today, but remained docile enough for most lenders to offer slightly stronger quotes. The improvement would only be seen in the form of modestly lower costs whereas contract interest rates would be the same as…
Mortgage Rates Newsletter – Market Analysis

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