Mortgage Rates Hold Ground at 18-Month Lows

By Matthew Graham

Posted To: Mortgage Rate Watch

Mortgage rates didn’t move much today, depending on the lender. Lenders that reissued improved rate sheets yesterday afternoon are generally in the same territory or slightly worse. Lenders that did not reprice yesterday are slightly better today. On average, rate sheets are close to ‘unchanged’ with 3.875% remaining the most prevalently quoted top tier, conforming, 30yr fixed rate. Lower rates are available, but require higher upfront fees. The fact that rates held steady today is a welcome development considering the market headwinds. The mortgage-backed-securities (MBS) that most directly influence mortgage rates tend to suffer in the face of stronger economic data, and this morning’s Retail Sales report was very strong. While that did cause weakness in MBS initially, it wasn’t the only…(read more)

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