Mortgage Rates: Winning Streak Ends Gently

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Posted To: Mortgage Rate Watch

Yesterday we shared news that mortgage rates were on a three day winning streak. This allowed us to update our best execution 30-year fixed mortgage rate from a range between 5.125 and 5.25% to simply 5.125%. Unfortunately that three day winning streak came to an end today, but it didn't happen in a particularly painful fashion as rates are basically unchanged from yesterday. Today was not without its excitement though. It was one of the more volatile days we've had recently in the secondary mortgage market, but at the end of the day, lender rate sheets were basically unchanged. CURRENT MARKET : The "Best Execution" conventional 30 year fixed mortgage rate is no longer split between 5.125% and 5.25%....it has fallen firmly to 5.125%. 5.00% quotes are available but borrowers should expect to...(read more)

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Source: www.mortgagenewsdaily.com

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