Mortgage Rates Roughly Unchanged Near Recent Highs

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Posted To: Mortgage Rate Watch

Mortgage rates were unchanged today, on average, marking the second straight day with minimal change near the highest levels in more than 2 months. For most lenders, that means conventional 30yr fixed rate quotes near 4.0% on top tier scenarios. So far this week, day-to-day changes have been limited to the upfront closing cost side of the equation (as opposed to interest rates themselves). While this can have a slight impact on the overall cost of financing, it doesn’t change the “note rate” attached to a new mortgage. Underlying financial markets have been fairly calm for the past 2 days despite successive all-time highs in stocks. The economic data and events that motivate bond markets (which dictate mortgage rates) have been absent, but that’s set to change heading into the 2nd half of the…(read more)

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