Mortgage Rates Steady at Long Term Highs Ahead of Election

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Posted To: Mortgage Rate Watch

Mortgage rates didn’t move much today. A few lenders were microscopically stronger or weaker, and the average lender was perfectly unchanged. That’s fairly decent news, considering underlying bond markets suggested higher rates by the end of the day. That said, this could easily be one of those situations where lenders are heading into tomorrow morning with a bit if an upward adjustment to make to rates (reason being: they need to see a certain amount of movement in any given day before “repricing.” Otherwise, they’ll just wait for the following morning). Even then, the landscape of tomorrow morning’s bond market could look very different. Some market participants don’t think midterm election results will matter much at all. Others think they could be the jumping-off point for the next phase…(read more)

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