Mortgage Rates Fighting to Stay Low

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Posted To: Mortgage Rate Watch

Mortgage rates put in another day with minimal movement today. If there was a detectable bias, it was toward slightly higher rates, but many lenders didn't move at all. That leaves the predominant range of conventional 30yr fixed rate offerings between 3.75% and 3.875%. It's worth mentioning that the most common rate quotes don't normally exist in as wide a range as we're seeing now. Recent volatility and varying lender strategies have resulted in a clear gap between between the front of the pack and the rest of the pack. Additionally, we're starting to see some lenders adjust their default lock time frames with the onset of the new TILA/RESPA Integrated Disclosure ( TRID ) rules. The public-facing campaign refers to this as "know before you owe." Either way, the rules attempt to make two forms...(read more)

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Source: http://www.mortgagenewsdaily.com/consumer_rates/517650.aspx

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