Mortgage Rates Fall Slightly From Recent Multi-Month Highs

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Posted To: Mortgage Rate Watch

The tone of Fiscal Cliff news shifted from comprommisory back to combative today, helping Mortgage rates recover from Tuesday's multi-month highs . Interest rates rose quickly on the first two days of the week as markets sensed that Washington was beginning to come together in order to craft a tax and spending plan to avert the Fiscal Cliff before the end of the year. Conventional 30yr Fixed Best-Execution rates are most commonly 3.375% with some lenders an eighth of a point higher or lower. ( Read More:What is A Best-Execution Mortgage Rate? ) Even before politicians had the chance to take the podium today, bond markets were already in the process of bouncing back from their weakest levels since late October. This suggests one of two things. Either markets are waiting for more substantive...(read more)

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Source: www.mortgagenewsdaily.com

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