Mortgage Rates Fall Slightly from 2015 Highs

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Posted To: Mortgage Rate Watch

Mortgage rates were just slightly lower today, but only erased a small portion of Friday's move to 2015 highs. Friday notwithstanding, today's rates would be the highest since early November 2014. The average lender is still quoting conventional 30yr fixed rates of 4.125% on top tier scenarios. Mortgage rates are closely connected to movements in the bond market, and global bond markets have been a scary place lately. At the center of the fear is the prospect that European interest rates may have already turned a long term corner after bottoming out in April. While European rates don't directly affect US mortgage rates, there is a domino effect, of sorts, that keeps them generally moving in the same direction, by varying degrees. Today wasn't one of the days that saw a strong connection, but...(read more)

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Source: http://www.mortgagenewsdaily.com/consumer_rates/478070.aspx

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