Mortgage Rates Seasonally Sideways

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Posted To: Mortgage Rate Watch

Mortgage rates were lifeless today as financial markets drifted sideways. Although rates CAN move during the last week of December when there’s an imbalance between buyers and sellers in bond markets, that’s the exception to the rule. We tend to see days exactly like today with effectively zero change in lender rates sheets compared to the previous business day (in this case, last Friday). In the bigger picture, it’s reassuring to see rates hold sideways after they spiked early last week. That said, the sideways momentum is best viewed as symptom of the season. We’ll know a lot more about underlying momentum in rates by the 2nd week of January. Between now and then, there’s limited risk and limited reward when it comes to floating vs locking. Today’s Most Prevalent Rates 30YR FIXED – 4.125…(read more)

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