Wednesday , 6 January 2021

Rates Consolidate as Markets Prepare for Big News

By Matthew Graham

Posted To: Mortgage Rate Watch

Mortgage rates moved moderately higher on average today. Recently high volatility in financial markets continues driving stratified pricing strategies. That’s a long way of saying that different lenders are adjusting rates by different amounts, and sometimes even in different directions. For instance, a few lenders actually offered improved rates today for some scenarios while other lenders were much higher. The net effect was an increased prevalence of 3.75% among conforming 30yr fixed rate quotes for top tier scenarios. 3.625% remains the most common, but today’s closing costs would be higher than yesterday’s. Much of today’s volatility had to do with unexpected headlines concerning global central banks. In general, the market’s focus is on the European Central Bank (ECB) as it’s expected…(read more)

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