Mortgage Rates Reverse Course, Falling Quickly

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Posted To: Mortgage Rate Watch

Mortgage rates were up to the highest levels in 2 weeks yesterday, but that was then and this is now. In the wee hours of the morning, trade-related headlines rocked financial markets. This sent stock prices and bond yields (aka “rates”) lower at a rapid pace. Mortgage lenders began the day in much better territory. By the middle of the day, they’d seen enough improvement to reissue rate sheets with even better terms. The average lender is now close to the lowest rates since October 9th. Interest rates are in an interesting spot right now. They’re willing (and compelled) to pay attention to headlines like those seen today, as well as the economic data that typically provides guidance. The data adheres to a schedule whereas the headlines usually don’t. With that in mind, there’s no way to say…(read more)

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