Mortgage Rates Fairly Flat; Still Waiting on Europe

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Posted To: Mortgage Rate Watch

Mortgage rates didn't move much today , but are slightly higher for most lenders by the afternoon. Rates were noticeably higher in the morning, but most lenders sent out rate sheet improvements after bond markets rallied into mid-day. A "rally" in bond markets means the prices for things like Treasuries and Mortgage-backed securities (the MBS that dicatate mortgage rates) are moving higher. Rising bond prices mean lower rates on rate sheets. Being unchanged on a day like today is a surprise . The weekend held a big meeting between Greece and its Eurozone creditors. It was billed as the weekend that would decide if Greece remained in the Eurozone. In general, the closer Greece moves to that door, the better it is for rates, and vice versa if deals are being struck. In other words, if Greece...(read more)

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Source: http://www.mortgagenewsdaily.com/consumer_rates/487407.aspx

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