Thursday , 21 January 2021

Mortgage Rates Snap 7-Day Streak; More Volatility Ahead

By Matthew Graham

Posted To: Mortgage Rate Watch

Mortgage rates finally ended a 7-day winning streak today, moving higher for the first time since November 19th. The losses were not insignificant either, erasing the past 4 days of steady improvements. All that having been said, the bottom line could still be much worse. Some lenders are still competitively-priced at 3.875%, meaning a top tier borrower and scenario would be quoted 3.875% for a conforming 30yr fixed loan. Others, however, moved up to 4.0% today after just having made it down to 3.875% yesterday. The average lender is now somewhere in between. As for the underlying causes pushing rates higher, there are no simple, satisfying explanations today. There aren’t any surprisingly strong economic reports pushing stocks and bond yields higher. The biggest considerations are those that…(read more)

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