Mortgage Rates End Another Week at Lows

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Posted To: Mortgage Rate Watch

Mortgage rates improved for a second day, and ended at their lowest levels for a second straight week. The most prevalent conventional 30yr fixed quote remains 4.0% for top tier borrowers, but several lenders moved down to 3.875%. Additionally, the less aggressively priced lenders have rejoined the pack after moving up to 4.125% on Wednesday. Today is interesting in several regards. These mainly have to do with stark differences juxtaposed with striking similarities to last Friday. Both days tied for the biggest single-day improvement in the past 2 months. Bother days were preceded by Thursdays with exactly the same amount of improvement. Both of these Thu/Fri combos were the only positive days in May. In short, they have a ton of similarities. That's scary because last time around, Monday...(read more)

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Source: http://www.mortgagenewsdaily.com/consumer_rates/472343.aspx

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