Mortgage Rates Hold Mostly Steady Ahead Of Employment Report

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Posted To: Mortgage Rate Watch

Mortgage rates were significantly more unified in their movement on Thursday. Actually, "lack of movement " would be a better characterization as most lenders are so close to yesterday's offerings as to be more appropriately considered "unchanged." Naturally then, Best-Execution remains steady at 3.375% though some borrowers would be better served at 3.25% or 3.5% depending on the lender and scenario ( Read More:What is A Best-Execution Mortgage Rate? ). As we often note, Mortgage-Backed-Securities (MBS) are the primary drivers of mortgage rates when it comes to the "stuff" that trades on Wall Street. When the prices of MBS rise, rates tend to fall, and vice versa. It's worth noting that rates at many lenders held steady today in spite of the fact that MBS prices were lower at the start and...(read more)

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