Posted To: Mortgage Rate WatchMortgage rates were every bit as flat as expected today. That’s a good thing at the moment, considering we’re holding in line with the lowest levels in more than a month. For the average borrower, that’s roughly an eighth of a percentage point lower than 2 weeks ago, when rates were near 8-year highs. The Thanksgiving week is typically uneventful for the bond markets that underlie mortgage rates, largely due to inconsistent participation among traders and other people in the supply chain for rates. The pace tends to pick up in the following week and especially in the first week of December as markets settle in to their final approach ahead of the mid-December Fed Announcement–oftentimes a focal point of end-of-year volatility. Loan Originator Perspective As expected, bond markets slumbered…(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
Michael Ayoub, Author NMLS ID 6631