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Created: 06/05/2015 at 12:47 PM Updated: 26/06/2017 at 6:40 PM

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Mortgage Rates in Line With 3-Week Lows

Mortgage rates moved lower again today as investors remained cautious amid political uncertainty at home and abroad.  Stocks began the day higher but lost ground throughout the day--indirectly helping rates.  That's not to suggest mortgage rates routinely take cues from stocks.  Rather, slumping stocks and falling rates speak to the same underlying trends.  Caution, fear, and the like tend to increase demand for less risky assets like bonds.  As demand for bonds increases (sometimes, at the expense of stocks--like today), rates fall.
In and of itself, today's improvement was mild to moderate.  But taken together with yesterday, the gains were more meaningful as they brought a majority of lenders back to quoting 30yr fixed rates of 4.125% on top tier scenarios.  The transition from 4.25% is still very much "in progress," however.  More than a few lenders continue quoting 4.25%, but with slightly lower upfront costs vs yesterday....(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=703934
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#Posted on Tuesday, 07 February 2017 at 7:08 PM

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My archives (161)

  • Mortgage Rates Drop to 2-Week Lows
    Mortgage rates moved lower today as...
    Mon, February 06, 2017
  • Mixed Day Leaves Rates Slightly Higher
    Mortgage rates were noticeably...
    Fri, February 03, 2017
  • Mortgage Rates Edge Lower Ahead of Jobs...
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    Thu, February 02, 2017
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    Wed, February 01, 2017
  • Mortgage Rates Just a Bit Lower as Data...
    Mortgage rates moved just a bit...
    Tue, January 31, 2017
  • Mortgage Rates Slightly Lower to Begin Week
    Mortgage rates fell modestly today,...
    Mon, January 30, 2017
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