Mortgage Rates Catch a Break

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Posted To: Mortgage Rate Watch

Mortgage rates caught a break today , as underlying bond markets made it back into Tuesday’s territory. Refreshingly, lenders were willing to set rates back at Tuesday’s levels. That may sound exceedingly logical considering bond markets dictate rate movements, but it’s an exception to the recent rule that’s seen lenders err on the side of caution when it comes to following every little movement in bonds. In other words, lenders have been quick to raise rates when bonds are weaker and slow to bring them back down when bonds recover. That makes today something of an opportunity for anyone who wished they’d locked their rate on Tuesday. Simply put, now you can! These sorts of recoveries are tricky business from a forecasting perspective. Of course there’s a temptation to hope for more when we…(read more)

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