Mortgage Rates Flat as Markets Get Back to Business

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Posted To: Mortgage Rate Watch

Mortgage rates were almost perfectly unchanged today as markets returned to full force following the extended Thanksgiving break. Bond markets (which dictate mortgage rate momentum) had been consolidating in a narrower and narrower range in the weeks leading up to Thanksgiving. While it’s safe to assume that we’ll see a bigger move in the coming weeks, today didn’t deliver. The volatility is widely expected to result from the tax reform process. The Senate will begin debate this week, but don’t expect anything conclusive until mid-to-late December. Markets are ready to react to success (which would be bad for rates) or failure (which would be good), and will move in the direction of those results to whatever extent one seems more likely than the other. Loan Originator Perspective Bond markets…(read more)

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