Mortgage Rates Back In Line With Recent Highs

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Posted To: Mortgage Rate Watch

Mortgage rates rose purposefully today, as mortgage-backed-securities (MBS) coped with tough trading conditions for a variety of reasons. Lenders who released rate sheets early in the morning were forced to reprice negatively as markets deteriorated, but we've seen several lenders who priced during the weaker market conditions able to reprice positively this afternoon as some of the losses have been recovered. All told, the average rate sheet is back to February 1st rates/fees with 3.625% remaining as the Best-Execution rate and borrowing costs rising. ( What is A Best-Execution Mortgage Rate? ) As we occasionally discuss, in terms of financial markets' effects on mortgage rates, it's not Treasuries, but MBS that have the most direct effect . This stands to reason considering that MBS are the...(read more)

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Source: http://www.mortgagenewsdaily.com/consumer_rates/295212.aspx

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