Warning: Tomorrow’s Mortgage Rate News Will be Wrong

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Posted To: Mortgage Rate Watch

Mortgage rates have had a great week. Although rates are slightly higher today versus yesterday, they’re still exceptionally close to the lowest levels since November 2016. That’s actually been the case since late last week as more than half of the improvement in underlying bond markets (which dictate rates) was in the books by Friday afternoon. It took lenders a few days to get caught up with the market movement, but by yesterday afternoon and this morning, top tier scenarios were seeing rate quotes of 3.625% in many cases (25%+ down, perfect credit, etc). Tomorrow will bring a raft of mortgage rate headlines from major news outlets due to the typical Thursday release of the widely-followed Freddie Mac Primary Mortgage Market Survey. Those stories will all be wrong . How can I be so sure?…(read more)

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