Mortgage rates¬†were relatively unchanged¬†today, but only after averaging the disparate changes from various lenders. ¬†That means some lenders are in much better shape versus yesterday while others are noticeably worse. ¬†
This sort of disparate movement isn't typical of mortgage rates across lenders, but it can happen when underlying bond markets experience volatility on back-to-back afternoons. ¬†That was indeed the case over the past 48 hours. ¬†Bond markets weakened (which pushes rates higher) yesterday afternoon, but only a handful of lenders issued reprices (new, higher rates, in response to intraday market movement). ¬†Today's volatility was in our favor resulting in several lenders issuing POSITIVE reprices....(read more)Forward this article via email:¬†¬†Send a copy of this story to someone you know that may want to read it.