Posted To: Mortgage Rate WatchMortgage rates held fairly steady this morning, keeping them in line with the highest levels since early August. As the day progressed, underlying bond markets weakened. This implies higher rates tomorrow or, for some lenders, a late day change to today’s rate sheet offerings. The changes aren’t severe, but at recent highs, every little bit hurts. If the next 5 days are anything like the past 5 days, we’d be looking at the highest rates since 2011! In other words, we may not be moving too much, but the outright levels continue to be unpleasant. There were no specific motivations in financial markets to account for today’s bond market weakness. That said, there is anxiety about events coming up in the rest of the week. These include economic reports (like the inflation data tomorrow and Thursday…(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