Mortgage Rates Stuck at Highs For Now

Mortgage Rates were unchanged in many cases today, with a handful of lenders inconsequentially better or worse versus yesterday’s latest offerings. Despite moving lower on 4 out of the past 6 days, rates were never able to put meaningful distance between themselves and the highest levels in more than 4 months. The slow progress was partly a market phenomenon and partly due to lender strategy. Mortgage rates are driven by bond markets–specifically, mortgage-backed-securities (MBS). Bond markets were hesitant to rush back toward lower rates after topping out in mid-October because traders continued to wait for key events for the green light. Now that one of those events (the European Central …
Mortgage Rates Newsletter – Market Analysis

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