Worst Week Since June May be Calming Down For Mortgage Rates


Posted To: Mortgage Rate Watch

Mortgage rates edged just slightly higher again today, capping the sharpest 3-day increase since late June and leaving the average lender more than an eighth of a percentage point higher than they were on Monday. While an eighth of a point may have been a fairly typical “big week” in previous years, it’s been uncommon in 2017–especially since the range of rates began to narrow at the end of October. Today’s weakness in mortgage rates–although small–is at odds with slight improvements in bond markets (which underlie rates). Part of the reason is timing. Bonds weakened into the afternoon yesterday, but few lenders adjusted rate sheets accordingly. That means they began today at a relative disadvantage–one that’s reflected in the rate sheet changes. The average lender is now quoting conventional…(read more)

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