Mortgage Rates Hit One Month Lows. Time To Lock?

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Posted To: Mortgage Rate Watch

Mortgage rates improved at their fastest pace in a week, bringing most lenders' rate sheet offerings to their best levels since the first few days of March. In a continued break from recent tradition, markets largely ignored the European trading overnight and instead took cues from domestic data. In this regard, a softer than expected read on employment marked the jumping off point for a healthy rally in bond markets. Bond markets include MBS, the mortgage backed securities that most directly influence mortgage rates, and when prices improve, consumer borrowing rates decline. As is typically the case, a single day of movement in rates--though positive--was not enough to change the prevailing 3.625% b est execution ( what is this? ) rate for 30yr Fixed loans. Instead, the movement was seen primarily...(read more)

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Source: http://www.mortgagenewsdaily.com/consumer_rates/302698.aspx

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