Mortgage Rates End Week at Recent Highs

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Posted To: Mortgage Rate Watch

Mortgage rates were generally quiet today as bond markets wound down ahead of the 3-day weekend. While stock markets and many businesses will be open as usual on Monday, banks and bond markets will be closed. This means that many mortgage lenders will either be closed, or otherwise simply not making any rate sheet adjustments. Point-being, it's not uncommon to see movement in interest rates level-off heading into these longer weekends. Unfortunately for the current week, that means we're leveling off at the highest rates of the month. The silver lining , of course, is that rates are still lower than almost all of September and the average conventional 30yr fixed rate remains in the high 3's. Specifically, most lenders are quoting 3.875% on top tier scenarios with a few of the most aggressive...(read more)

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Source: http://www.mortgagenewsdaily.com/consumer_rates/518206.aspx

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