Mortgage Rates Edge Lower to Remain in Recent Range

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Posted To: Mortgage Rate Watch

Mortgage rates rose to the week’s highest levels yesterday, but they moved back down today . Although there have been slightly better days over the past 2 weeks, today’s improvement is enough to keep rates in the best territory since November 2016. For the average lender, this means top tier scenarios continue to see quotes in the high 3% range. In general, the expectation for more accommodative Fed policy at the next meeting (end of July) has been the primary source of inspiration for the most recent leg of 2019’s already-impressive rate rally. It’s good to remember, however, that those expectations come from somewhere. No one would expect the Fed to cut rates if inflation was higher, a US/China trade deal hammered out, or economic data coming in universally stronger. While it’s practically…(read more)

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