Mortgage Rates Essentially Unchanged Despite Weaker Bond Markets

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Posted To: Mortgage Rate Watch

Mortgage rates leveled off on Thursday , after moving gently lower on the first three days of the week. Bond markets such as US Treasuries began the day in weaker territory due primarily to overnight events in Europe and Asia. Though the road was slightly bumpy throughout the domestic hours, rates are at the same levels as this morning. MBS (the "mortgage-backed-securities" that most directly influence mortgage rates) were also a bit weaker in the morning, but not to the same extent as Treasuries. They also held a much less volatile trading range, allowing lenders to keep pricing unchanged at the same Best-Execution levels as yesterday--split between 3.375% and 3.5%. ( Read More:What is A Best-Execution Mortgage Rate? ) There are reasons to be both optimistic and concerned about the near term...(read more)

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Source: http://www.mortgagenewsdaily.com/consumer_rates/290896.aspx

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