Mortgage Rates Start Strong, But Move Higher In Afternoon

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Posted To: Mortgage Rate Watch

Mortgage rates are unchanged to slightly higher , after beginning the day in slightly better territory vs yesterday and weakening in to the afternoon hours. As is occasionally the case, interest rates took cues from equities markets and the European currency. Both of these advanced, especially in the afternoon, pulling domestic interest rates up with them, which resulted in deterioration for the secondary mortgage market and ultimately widespread revisions to morning rate sheets. Best-execution for 30yr Fixed, Conventional Loans remains at 3.625% with recent improvements leaving 3.5% closer than 3.75% for most lenders. ( What is A Best-Execution Mortgage Rate? ) Fed Chairman Bernanke was back on Capitol Hill today, fielding questions from the House Financial Services Committee in his second...(read more)

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Source: http://www.mortgagenewsdaily.com/consumer_rates/297844.aspx

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