Mortgage Rates: Closing Costs Edge Higher

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Posted To: Mortgage Rate Watch

Fence-sitters today got their first taste of a series of moderately risky events that face mortgage rates in the days ahead, Treasury auctions! The day started with loan pricing looking basically unchanged vs. the quotes offered by lenders yesterday, but conditions deteriorated leading into the first government debt auction of the week and lenders were forced to reprice for the worse. Although the actual auction itself was strong, it failed to motivate a recovery rally in the bond market and consumer borrowing costs edged higher . Best Execution did not change though. CURRENT MARKET : The "Best Execution" conventional 30 year fixed mortgage rate is still 4.875%. For those looking to buy down their rate to 4.75%, this quote carries higher closing costs. The upfront cost of permanently buying...(read more)

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Source: www.mortgagenewsdaily.com

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