Mortgage Rates: Unfriendly Shift Potentially in Process

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Posted To: Mortgage Rate Watch

Home loan borrowing costs moved incrementally higher this week. There is reason to be concerned about this directional drift.... Although today's increased costs are not out of line with the rest of the week, the broader bond market is potentially undergoing a technical shift . It hasn't been noticeable from a primary mortgage market perspective because borrowing costs have slowly drifted higher with little motivation over the past week, but thin margins are adding up and we're getting more nervous about a technical shift in the secondary market that could lead to an unfriendly jump in "Best Execution" mortgage rates. Plain and Simple : Mortgage rates have been drifting sort of listlessly in the wrong direction for the past week. Trading technicals suggest "listless" may now be changing to...(read more)

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Source: www.mortgagenewsdaily.com

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