Mortgage Rates Steady to Higher Depending on The Lender

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Posted To: Mortgage Rate Watch

Mortgage rates began the day very little changed versus yesterday’s latest offerings. That meant another morning of access to the lowest rates since late 2017. As the day progressed, bond markets weakened and several lenders were forced to issue mid-day reprices (meaning slightly higher rates or upfront costs, depending on the scenario). Reprices can go both ways, but generally speaking, lenders are quicker to reprice toward higher rates/costs when bonds are weakening than they are to offer improvements when bonds are strengthening. It should be noted that different lenders are offering drastically different rates at the moment. This is a byproduct of market volatility and differences in business models. Some lenders are better able to keep pace with this volatility than others. If markets…(read more)

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