Mortgage Rates Recover For 2nd Straight Day

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Posted To: Mortgage Rate Watch

Mortgage rates moved lower again today , bringing them back in line with Monday’s levels for the average lender. That said, rate sheets have been very stratified between lenders during the recent spat of volatility. In other words, even if 2 lenders were similarly-priced on Monday, they might not be today. Compared to Wednesday (highest rates this week), today’s rates are nearly an eighth of percent lower. The improvement in bond markets (which underlie rates) was somewhat serendipitous in the sense that there was no overt motivation in terms of economic data or news headlines. That’s not to say there were no big economic reports (indeed, the first reading of Q1 GDP was released this morning)–just that they didn’t elicit a big response in bonds. Loan Originator Perspective Bonds caught a second…(read more)

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