Mortgage Rates Moderately Improved On Fiscal Cliff Headlines

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Posted To: Mortgage Rate Watch

Mortgage rates moved slightly lower on Thursday after markets received their first Fiscal Cliff update of the week. Earlier this morning, Senate Majority Leader Harry Reid said that over the Fiscal Cliff "looks like where we're headed." Stock prices and bond yields fell steadily following that headline, but ultimately leveled off in the afternoon. Despite improved trading levels in Financial Markets, lenders maintained relatively more conservative pricing strategies, with only moderate improvements to borrowing costs at the same rates offered yesterday. 30yr Fixed Best-Execution remained unchanged at 3.375%, though buying down to 3.25% could make sense for some borrowers at certain lenders. ( Read More:What is A Best-Execution Mortgage Rate? ) Market activity picked up dramatically today as...(read more)

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Source: www.mortgagenewsdaily.com

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