Mortgage Rates Carried Higher Still By Yesterday's Momentum

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Posted To: Mortgage Rate Watch

Mortgage rates weren't quite finished with what they began on Wednesday, which was the worst we've seen in a long time . Despite bond markets managing to hold their ground for the most part today, rates were carried higher by yesterday's momentum--that is to say, lenders' rate sheets were worse this morning than yesterday afternoon despite the fact that trading levels in Mortgage-Backed-Securities weren't appreciably worse. (catch up with yesterday's big move: Why Did Mortgage Rates Skyrocket Past 2013 Highs on Wednesday? ) Considering that yesterday's rates were the highest in exactly one year, today's claim the "over a year" title and best-execution is pushing well into 3.75% for most lenders with some closer to 3.875% already. This isn't universally the case and a few lenders were closer...(read more)

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Source: http://www.mortgagenewsdaily.com/consumer_rates/310022.aspx

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