Posted To: Mortgage Rate WatchMortgage rates were almost perfectly unchanged again today, meaning they haven’t really changed in more than a week. All this despite a rather noticeable improvement in underlying bond markets (something that typically goes hand in hand with lower mortgage rates). Granted, the bonds that underlie mortgage rates didn’t do quite as well as US Treasuries, but even then, mortgage rates barely budged. Is this some sort of evil conspiracy? Probably not… It probably has more to do with a phenomenon we discuss fairly frequently whereby the improvements in bonds over the course of the day aren’t quite enough to get lenders to change their rates in the middle of the day. The result is that lenders are more likely to offer those improvements tomorrow morning assuming, of course, that bond markets don…(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