Mortgage Rates Snap Two Day Losing Streak

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Posted To: Mortgage Rate Watch

Mortgage rates put an end to two days of weakness , but for most lenders, rates were only moderately improved on Thursday. Weak economic data helped push interest rates and stock prices lower on Wall Street today, but Treasuries and Mortgages started the session in worse shape than yesterday. Consequently, the improving market conditions in the Secondary Mortgage Market only resulted in minor improvements on the COST side of the Best-Execution equation , whereas Best-Ex rates themselves remained unchanged at 3.375%. Lower or higher rates can be viable depending on the lender and scenario. ( Read More:What is A Best-Execution Mortgage Rate? ) The past two days of rising rates were somewhat of a concern, especially as mortgages disconnected from their generally well-correlated relationship with...(read more)

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Source: www.mortgagenewsdaily.com

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