Rates Recover Nominally, but Remain Near 5-Month Highs

Mortgage Rates recovered slightly today, after hitting the highest levels in nearly 5 months yesterday. Unfortunately, that leaves today’s rates with the dubious distinction of “2nd highest in nearly 5 months.” It continues to be the case that lenders won’t be eager to offer major improvements on rate sheets, even if underlying bond markets improve. In other words, the current dynamic between market movement and mortgage rates is different than the norm . When bond markets are more stable, and especially when they’re not in the midst of a trend toward higher rates, lenders are more willing to adjust rates sheets such that they’re keeping logical pace with market movement. Right now, however,…
Mortgage Rates Newsletter – Market Analysis

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