Mortgage Rates Edge Up to 5-Month Highs

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Posted To: Mortgage Rate Watch

Mortgage rates moved slightly highe r today. While it wasn't a big move in the grand scheme of things, rates were already fairly close to their highest levels since early July . For most lenders, that means conventional 30yr fixed rates in the 4.125-4.25% range for top tier scenarios. The day began decently enough, with underlying bond markets mostly holding their ground--especially the mortgage-backed-securities (MBS) that dictate mortgage rates. The first rate sheets of the day were actually in line with--or slightly better than--yesterday's latest rate sheets. As the day progressed, MBS were eventually pulled down by significant weakness in the Treasury market, resulting in mid-day 'reprices' from most lenders. While this move higher could merely be an incidental byproduct of the year-end...(read more)

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Source: http://www.mortgagenewsdaily.com/consumer_rates/548401.aspx

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