Mortgage Rates: What's Next?

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Posted To: Mortgage Rate Watch

Home loan borrowing costs got slightly more expensive today. Best-execution mortgage rates were unchanged though. News today that Treasury would begin selling its Mortgage-Backed-Security holdings took what was already a moderately weak morning and made it even weaker. This is indicative of the challenges ahead this week. Volatility notwithstanding, consumer borrowing costs could increase more before we find out if the rates recovery will continue. 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 carries higher closing costs but given the recent availability of 4.75% as a Best Execution rate, these...(read more)

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Source: www.mortgagenewsdaily.com

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