Mortgage Rates Recover Most of Friday’s Losses

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Posted To: Mortgage Rate Watch

Mortgage rates recovered much of Friday’s losses today, moving back near the lowest levels in more than a month. To be fair, that’s a claim they could have made on Friday, which was still the 2nd best day in a month despite the deterioration vs Thursday. 2017 has consequently been “so far, so good” for rates. When combined with the 2nd half of December, rates are a quarter of a point lower on average, and as much as a half point lower at certain lenders. The most prevalent conventional 30yr fixed rate remains 4.125% on top tier scenarios. Today’s improvement comes in the form of lower upfront costs (or a higher upfront lender credit, as the case may be). There were no major reports or headlines driving the change in bond markets (which dictate rates). Thus, we’re getting a clearer view of underlying…(read more)

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