Mortgage Rates Still in Holding Pattern After Fed

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Posted To: Mortgage Rate Watch

Mortgage rates had a far calmer day compared to yesterday's volatility. Morning hours brought stronger economic data. While this did put some pressure on the bond markets that underlie mortgage rate movement, it wasn't enough for most lenders to recall their first rate sheets of the day. After European markets closed, US markets improved enough in the afternoon to prevent any further risk of mid-day reprices from lenders. The most prevalently-quoted conventional 30yr fixed rate for top tier scenarios is still 4.125% but some of the more aggressive lenders are back to 4.0%. While it's nice not to be moving any higher in rate, it would be nicer to see a stronger push toward lower rates in the wake of yesterday's Fed announcement. The lack of progress suggests we should continue to be cautious...(read more)

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Source: http://www.mortgagenewsdaily.com/consumer_rates/480911.aspx

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