Mortgage Rates Improve For The First Time In A Week

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Posted To: Mortgage Rate Watch

Mortgage rates finally improved on Thursday after moving sideways or higher since last Thursday. The drop in rates/costs was broad-based with less of the stratification between lenders noted yesterday. Depending on the scenario, this gets some of the more aggressive lenders back into 3.25% territory, while many others remain at 3.375%, simply with lower borrowing costs vs yesterday. ( Read More:What is A Best-Execution Mortgage Rate? ) Bond markets and mortgage-backed-securities began the day slightly weaker territory, which would normally be a prelude to higher rates on lenders' rate sheets. Rates markets disregarded economic data to level off in the morning and began improving even before the afternoon's Treasury auction. After the auction passed with reasonable success, levels continued...(read more)

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Source: www.mortgagenewsdaily.com

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