Mortgage rates¬†moved higher¬†today, bringing them back into the range that's dominated the second half of the month. ¬†That means the average lender is fairly close to the highest rates in more than 2 years, officially seen on December 15th. ¬†There hasn't been much movement since then, which is not uncommon during the winter holiday season.
As for the contract rates, themselves, 4.375% remains the most prevalent conventional 30yr fixed quote for top tier scenarios. ¬†Several lenders still up at 4.5% and a few are down at 4.25%. Barring the unforeseen, lenders will have little incentive to make meaningful adjustments to rates between now and the end of the year, thus decreasing the risk and reward associated with a "lock vs float" decision. ¬†...(read more)Forward this article via email:¬†¬†Send a copy of this story to someone you know that may want to read it.[img]http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=692215