Mortgage Rates Modestly Lower Ahead of Big Jobs Report

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Posted To: Mortgage Rate Watch

Mortgage rates continued their recent trend of almost imperceptible movement today. This time, things improved ever-so-slightly with most lenders lowering the upfront costs associated with prevailing rates. In other words, the underlying market movement continues to be small enough that rates, themselves, are rarely changing from one day to the next. Instead, it's the upfront borrowing costs (or lender credit, depending on the scenario) that are acting as the fine tuning adjustments. In terms of coarse adjustments, most lenders are quoting conventional 30yr fixed rates of 4.0% on top tier scenarios, though 3.875% is still fairly prevalent. All of this narrow range business could change abruptly in the next two weeks, and certainly as early as tomorrow morning. The Employment Situation Report...(read more)

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Source: http://www.mortgagenewsdaily.com/consumer_rates/509203.aspx

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