Thursday , 21 January 2021

Mortgage Rates Finally Catch a Break, but Not a Big One

By Matthew Graham

Posted To: Mortgage Rate Watch

Mortgage rates caught a bit of break today, logging the first meaningful improvements in the entire month of February. The gains weren’t much better than those seen at the end of last week, but after yesterday’s absolute rout, they were a much-needed reprieve. Yesterday saw rates move higher at the fastest pace in more than a year, and any additional weakness today would have threatened to reintroduce 4.0% as a viable 30yr fixed rate quote for top tier scenarios. That figure instead remains at 3.875% with an aggressive lender or two closer to 3.75%. So is that it? Is that the end of February’s relentless weakness? Unfortunately, it’s too soon for such conclusions. Way back on February 3rd, I wrote that we were in the midst of a “fairly strong move higher” and that it “should be taken seriously…(read more)

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