Mortgage Rates Weaker at First. Some Afternoon Improvements

Mortgage rates began the day moving slightly higher , further adding to the bounce back from Friday’s 2-month lows. This time around, however, the scope of the weakness was limited. It wouldn’t be unfair to say that rates held their ground at just marginally higher levels for most of the day. Additionally, trading levels in underlying bond markets improved in the afternoon, prompting some lenders to release new, modestly lower rates. After the reprices, the average lender is still just a bit higher than yesterday, but the difference would only be seen in the form of higher closing costs. Quoted rates are the same as yesterday with most lenders offering conventional 30yr fixed rates of 3.75% …
Mortgage Rates Newsletter – Market Analysis

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