Mortgage rates¬†were steady-to-slightly lower today, keeping them in line with the lowest levels in 2 weeks and very close to the lowest levels of the month. ¬†For most lenders, that means conventional 30yr fixed rate quotes of 4.25% on top tier scenarios. ¬†Some lenders are still up at 4.375% and an aggressive few are back down to 4.125%.
Last week, we discussed the motivations for the rate improvements in detail. ¬†To recap: longer-term rates like mortgages had already risen in anticipation of the Fed rate hike. ¬†It wasn't a surprise. ¬†Instead, markets were focused on the Fed's forward-looking rate hike forecasts, which came out slightly slower than markets expected.¬†...(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=719480