Mortgage Rates Inch Down to 2-Week Lows

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Posted To: Mortgage Rate Watch

Mortgage rates moved nicely lower today, relative to the recent, plodding improvements. This brings most lenders back to their lowest levels since November 5th--the day before the jobs report pushed rates to their highest levels in more than 4 months. The most prevalently-quoted conventional 30yr fixed rate remains 4.0%, with quite a few lenders still quoting 4.125%. While today's quoted rates would be the same as yesterday's, most borrowers would see lower closing costs or a higher lender credit, depending on the scenario. In the bigger picture, the financial markets that underlie mortgage rate movement are coming into the official holiday season. This is important because it decreases the liquidity in the secondary mortgage market (liquidity can be thought of as the level of activity in a...(read more)

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Source: http://www.mortgagenewsdaily.com/consumer_rates/533891.aspx

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