Mortgage Rates Back Near Lows Of The Week

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Posted To: Mortgage Rate Watch

Mortgage rates finally extended yesterday's move lower, falling at an even quicker pace today. Weaker Retail Sales data contributed to a morning rally that was already underway in European trading overnight. Mortgage Lenders adjusted rate sheets lower to a greater extent than we typically see after such market movements, easily putting 3.5% back in force as the b est execution ( what is this? ) for 30yr Fixed loans. For many lenders, this means the best rate sheet offerings of the week, though some are not quite back to Monday's levels. Friday's lows remain elusive, but then again, so do the trading levels that spawned them. Yesterday, we commented on bond market strength (where "stronger" = "lower rates") being surprisingly reassuring. That had to do with Treasuries and MBS ("mortgage backed...(read more)

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Source: http://www.mortgagenewsdaily.com/consumer_rates/304175.aspx

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