Tuesday , 18 December 2018

Mortgage Rates Edge Higher

By Matthew Graham

Posted To: Mortgage Rate Watch

Mortgage rates fell to their lowest levels since late May as of last Friday. Today, then, would be the 2nd best day since late May. Rates edged slightly higher to begin the new week as bond markets (which underlie rates) came under modest pressure for several relatively inconsequential reasons. The net effect was a small adjustment in the upfront costs associated with prevailing rates. In other words, the actual interest rate governing your monthly mortgage payment hasn’t changed in weeks, but the upfront costs tied to that rate are slightly higher for lenders today compared to last Friday. Loan Originator Perspective My clients and i continue to favor locking in once within 30 days of closing. Only loans i would consider floating would be those that can lock on a shorter time tomorrow or if…(read more)

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