Mortgage Rates Higher in Some Cases


Posted To: Mortgage Rate Watch

Mortgage rates were mixed today, depending on the lender. Some lenders adjusted rates higher in the middle of the day to reflect bond market weakness while others maintained the same rate sheets all day long. The lenders in that second group are more likely to move higher with tomorrow morning’s first rate sheets, all other things being equal. In other words, bond market weakness amounts to unpleasant medicine and lenders could either choose to take it today or tomorrow. Those who took it today quickly found themselves back in line with the highest rates of the past few days, but the movement is still small compared to last week. In fact, today’s weakness would only be seen in the form of slightly higher closing costs for the same “note rates” quoted yesterday. 3.75% remains the most prevalently…(read more)

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