Posted To: Mortgage Rate WatchMortgage rates managed to maintain their lowest levels in more than a month yet again today. All this despite modest losses in underlying bond markets (the stuff that’s primarily responsible for most mortgage rate movement). Apart from bond markets, lenders’ individual pricing strategies also come into play. This becomes a bigger deal than normal during holiday weeks. In general, lenders try to set rates at levels less likely to require tweaking during Thanksgiving week. That could help explain the absence of change despite the bond market losses. That said, we could also simply be looking at another case of timing, where the bond market losses happened late enough in the day that the average mortgage lender was better served to adjust tomorrow morning’s rate sheets as opposed to going to that…(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