Mortgage Rates: Multiple Reprices for Better Reported. Borrowing Costs Down

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Posted To: Mortgage Rate Watch

Yesterday was a sensory overload for rate watchers. Lenders repriced for the worse. Then they repriced for the worse again. And again. One lender recalled rate sheets five times! I am not kidding. 5 TIMES!! That is a lot of repricing for the worse. Repricing for the worse = higher mortgage rates. Today was a sensory overload for rate watchers. Lenders repriced for the better. Then they repriced for the better again. And again. One lender recalled rate sheets five times! I am not kidding. 5 TIMES!! That is a lot of repricing for the better. Repricing for the better = lower mortgage rates. The culprit behind yesterday's sell off was a weak Treasury auction. The culprit behind today's rally was a strong Treasury auction (although we witnessed bargain buying before the auction). Sorry for repeating...(read more)

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Source: www.mortgagenewsdaily.com

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