Mortgage Rates Up to New Highs For 2019

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Posted To: Mortgage Rate Watch

Mortgage rates jumped a bit today, as lenders got caught up with the bond market movements from last Friday. It’s fair to wonder why they wouldn’t have done this yesterday. The reason has to do with the timing of market movement and the threshold for lenders to make mid-day rate sheet changes. If bond markets move enough during the day, mortgage lenders will make mid-day changes. If the movement happens late enough or isn’t clearly past the typical threshold, lenders will wait for the following business day to make the adjustments. The latter was the case on Friday and the “following business day” was Tuesday/yesterday due to the MLK holiday. But bond markets gained some ground yesterday–enough to keep rates relatively unchanged. Fast forward to this morning and bonds were back to the levels…(read more)

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