Mortgage Rates Recover Slightly From Last Week's Rout

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Posted To: Mortgage Rate Watch

Mortgage rates managed to catch their breath today after rising at the fastest pace since March on from Wednesday through Friday last week. Some lenders offered improved rate sheets on Friday afternoon, while others waited until today to pass along improvements. But in both cases, the bounce back represents only a small portion of the broader losses. Best-Execution for 30yr Fixed, Conventional loans had been firmly planted at 3.25% heading into December, and began to share the stage with 3.375% as the month progressed. By Friday, it had risen to 3.5% for a majority of lenders and remains there today, though some are back in 3.375% territory. ( Read More:What is A Best-Execution Mortgage Rate? ) ( Read More about Last Week's Rapid Rise in Rates ) More than a resounding bounce back to lower rates...(read more)

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Source: http://www.mortgagenewsdaily.com/consumer_rates/290270.aspx

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