Mortgage rates¬†are officially checked out for the holidays. ¬†Today marked the third straight day with very little change from the previous day's rates, despite plenty of justification from market movement. ¬†This worked against us yesterday as markets suggested lower rates, but it worked in our favor today as bond markets were slightly weaker (bond weakness implies higher rates). ¬†In general, lenders have rates set a bit higher than they otherwise would be during a more active time of year, and thus don't need to worry about adjusting rates too much in either direction, unless markets make a much bigger move.
4.375% remains the most prevalent conventional 30yr fixed quote for top tier scenarios. ¬†Several lenders still up at 4.5%. ¬†The average effective rate is just a hair under the highest levels since April 2014....(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=690337