Mortgage Rates Mixed to Begin Volatile Week

By Matthew Graham

Posted To: Mortgage Rate Watch

Mortgage rates were truly mixed today, with some lenders improving while others moved higher. More than a few were unchanged or close to it. All this despite the fact that broader interest rate benchmarks like 10yr US Treasuries were unequivocally in stronger territory. While not common, these divergences between Treasuries and mortgage rates can happen for several reasons, and we’re seeing the two most common reasons today. The first issue is the sheer level of improvement so far in 2015 (not to mention the improvement already underway in the past few months of 2014. Such a strong winning streak forces investors to reconsider how they’re assigning value to mortgage-backed-securities (MBS). If a big drop in rates means that recently originated loans are more likely to refinance, those loans…(read more)

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