Mortgage Rates Hold Eerily Steady

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Posted To: Mortgage Rate Watch

Mortgage rates held mostly steady today, as some lenders were just barely higher and others slightly lower than yesterday’s latest levels. With that, the damage seen on Wednesday is still very much intact, meaning that almost any scenario is now being quoted an eighth of a point higher in rate on the average conventional 30yr fixed loan compared to the beginning of the week. In terms of the outlook, two straight days of indecision in bond markets makes for a cloudy magic 8-ball. We certainly know that Wednesday was an important day with fairly serious negative implications for the near term rate outlook. It forced markets to reevaluate the likelihood of a June/July Fed rate hike. What we don’t know is whether or not that reevaluation is complete. History suggests far bigger moves are in store…(read more)

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