Mortgage Rates Recover Yesterday's Losses, Back In Line With Monday

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Posted To: Mortgage Rate Watch

Mortgage rates did a complete 180, for the second straight session. This reverses yesterday's rise in borrowing costs, taking them back in line with Monday's more palatable offerings in most cases. While some lenders are slightly better or worse than Monday, the average rate sheet continues to hover around the 3.625% Best-Execution level for 30yr Fixed, Conventional loans. That means that for all the volatility we've seen--and considering the somewhat dramatically worded "180" degree turns, the swings are merely playing out in the realm of COST whereas most any borrower would continue seeing the same interest rate every day for the past two weeks. ( What is A Best-Execution Mortgage Rate? ) Markets were more volatile during the domestic hours today, as opposed to yesterday's session which saw...(read more)

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Source: http://www.mortgagenewsdaily.com/consumer_rates/294727.aspx

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