Mortgage Rates Move Higher For The First Time In Two Weeks

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Posted To: Mortgage Rate Watch

Mortgage rates finally broke their unprecedented winning streak on Thursday as rates moved higher for the first time since the Fed announced it's third round of quantitative easing on September 14th. The 10 straight sessions of improving rates crossed into new all-time low territory earlier this week, and even after today's weakness, it's still the 3rd best day in the history of mortgage rates. Best execution levels continue hovering firmly at 3.25% for 30yr Fixed Conventional Loans. ( Read More:What is A Best-Execution Mortgage Rate? ) Economic data had little effect on trading levels in the underlying markets today. Treasuries and MBS (the mortgage-backed securities that most directly influence lenders' rates) both weakened and stocks advanced on statements from Spain regarding their plans...(read more)

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Source: www.mortgagenewsdaily.com

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