Mortgage Rates Unchanged After Thursday's Rout

Hot news from AZ Home Help:

Posted To: Mortgage Rate Watch

Mortgage rates were completely unchanged on Friday standing in stark contrast to Thursday's sharp move higher. While there were several lenders whose rate sheets were marginally changed vs yesterday's, most were strikingly similar. A handful of lenders issued positive reprices in the afternoon, but Thursday's damage was done and Best-Execution on 30yr Fixed, Conventional loans remained at 3.5%. ( Read More:What is A Best-Execution Mortgage Rate? ) It's worth mentioning that trading levels in the MBS market ("mortgage backed securities" that most directly influence rates) improved today. This is what allowed for the positive rate sheet changes from some lenders in the afternoon. Still, we'd typically see more broad-based improvement from the previous day when underlying markets improve. The...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagenewsdaily.com/consumer_rates/292154.aspx

- For more real estate news visit our website at http://www.AzHomeHelp.com