Rates Much Lower as Lenders Catch Up With Markets

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Posted To: Mortgage Rate Watch

Almost any major media outlet that covers financial news will have a story out today regarding this week’s mortgage rates being higher than last week’s. Thile this was true earlier in the week, it has easily and clearly been made untrue with the past 2 days of improvements in rates. At issue: Freddie Mac’s widely-cited weekly mortgage rate data doesn’t capture rate movements from the latter half of any given week, and ALL of this week’s improvements have arrived in the 2nd half. It’s not that the Freddie data is wrong. It just needs a week to get caught up with more timely changes. Mortgage rates improved at their quickest pace in several weeks t oday as lenders adjusted rate sheets to reflect some of the market improvement seen after yesterday’s Fed Announcement. Mortgage rates are driven…(read more)

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