Mortgage Rates: Trend Not a Friend

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Posted To: Mortgage Rate Watch

After hitting 2011 lows on a steady "flight to safety", home loan borrowing costs have drifted incrementally higher in six of the last six trading sessions. The week ahead carries the potential for the broader bond market to confirm a potentially fence-sitter unfriendly technical shift from bullish to bearish. It hasn't been noticeable on the surface because borrowing costs have been inching higher over the past few days, but thin margins are starting to add up and it's making us more nervous about a jump in "Best Execution" mortgage rates. This move has yet to be confirmed but we're definitely teetering on a shift... CURRENT MARKET : The "Best Execution" conventional 30-year fixed mortgage rate is 4.875%. For those looking to permanently buy down their rate to 4.75%, this quote carries higher...(read more)

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Source: www.mortgagenewsdaily.com

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