Mortgage Rates Increasingly Stuck at Recently Higher Levels

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Posted To: Mortgage Rate Watch

Mortgage rates moved slightly higher today on average, though a few lenders were unchanged or marginally improved. Some released positively revised rate sheets in the middle of the day as bond markets and MBS (the mortgage-backed-securities that most directly influence rates) improved. Though today's move was slightly weaker, it keeps rates in a consistent range just under their 10-month highs. After having risen to 3.625% in late January, 30yr fixed "best-execution" rates ( what is this? ) have been persistently stuck between there and 3.75% In a break from a week and a half of exclusive focus on European headlines, domestic bond markets (which include MBS) actually responded somewhat to today's economic data. The biggest standout here was today' Consumer Confidence numbers, which came in...(read more)

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Source: http://www.mortgagenewsdaily.com/consumer_rates/301653.aspx

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