Mortgage Rates Start Strong but Fade in Afternoon

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Posted To: Mortgage Rate Watch

Mortgage rates ended the day roughly in line with yesterday's latest levels on average. Rates were lower earlier this morning as bond markets got off to a strong start and stayed strong through the time of morning that most lenders release their first rate sheets. Generally, most lenders were close to their best levels in 4 months , though most had at least one day in late August that was slightly better. As the day progressed, the positive momentum began to wane . Part of the earlier strength came courtesy of weakness in equities markets. That weakness was fueled (no pun intended) by ongoing headlines surrounding Volkswagen's diesel scandal. A German newspaper leveled similar accusations at BMW, and global stock markets sold first and asked questions later. Eventually, the paper retracted...(read more)

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Source: http://www.mortgagenewsdaily.com/consumer_rates/514567.aspx

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