Mortgage Rates Continue Leveling-Off, Improving Slightly

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Posted To: Mortgage Rate Watch

Mortgage rates improved modestly , capping a week that's seen rates either move sideways or slightly lower every day. Today's stability and ultimately, improvements came as the result of uneventful overnight trading and a small surge in "asset allocation" trading out of stocks and into bond markets after stocks opened. General bond market strength benefits MBS, the securities that most directly affect mortgage rates. Weaker-than-expected Consumer Sentiment data continued to keep demand high for less-risky assets, ultimately leading many lenders to offer improved rate sheets in the afternoon. The net-positive week brings 3.625% back into focus as a Best-Execution rate, but 3.75% is more prevalent. Lower rates are available for increased upfront costs, but this becomes less and less efficient...(read more)

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Source: http://www.mortgagenewsdaily.com/consumer_rates/300305.aspx

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