Mortgage Rates Unchanged Despite Market Pointing Higher

Mortgage rates held steady again today , despite some weakness in underlying bond markets. When it comes to setting rates for the day lender rate sheets almost always follow the movement in the underlying bond market (specifically, mortgage-backed securities, which tend to move like a slightly less volatile version of 10yr Treasuries). On occasion, there will be movement in the bond market that is not reflected on lender rate sheets. Today is one such day. Bonds are currently pointing to slightly higher rates, yet the average lender is unchanged compared to yesterday’s latest levels. This has to do with today’s trading momentum in bonds. They pointed to higher rates in the early morning, but…
Mortgage Rates Newsletter – Market Analysis

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