Mortgage Rates Little-Changed Near 4%

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Posted To: Mortgage Rate Watch

Mortgage rates were marginally lower today compared to last week, but only when factoring in upfront finance charges. Actual quoted interest rates have been unchanged for more than a week with the average lender quoting conventional 30yr fixed rates of 4.0% on top tier scenarios. For the bond markets that underlie mortgage rates, it was a three-day weekend, and it showed. There were no relevant economic reports and very little by way of market-moving news or events. That will change later this week when we’ll receive several important reports, including a key inflation reading on Friday. In general, rates have been in a holding pattern at the highest levels in more than 2 months. The next move is important, because it will either keep 2017’s narrow pattern intact or suggest a shift back toward…(read more)

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