Mortgage Rates: Thin Margins Starting to Stack Up

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Posted To: Mortgage Rate Watch

From where you sit there appears to be little volatility in mortgage rates. Today was the FIFTH consecutive session where loan pricing either remained the same or worsened by a thin margin. We've been stuck in a "directional drift". Economic data and headline news events have done very little to motivate investors. Many market players seem to be waiting on the sidelines in preparation for their next move. All this makes it hard to communicate a sense of urgency but .... Those thin margins are starting to stack up. We're drifting in the wrong direction! CURRENT MARKET : The "Best Execution" conventional 30-year fixed mortgage rate is 4.875% after falling to 4.75% briefly last Wednesday (not universally, but in some cases). For those looking to permanently buy down their rate to 4.75%, this quote...(read more)

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Source: www.mortgagenewsdaily.com

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