Mortgage Rates Hold Ground After Tax Plan Release

Posted To: Mortgage Rate Watch

Mortgage rates were relatively unchanged today, but only after averaging the disparate changes from various lenders. That means some lenders are in much better shape versus yesterday while others are noticeably worse. This sort of disparate movement isn’t typical of mortgage rates across lenders, but it can happen when underlying bond markets experience volatility on back-to-back afternoons. That was indeed the case over the past 48 hours. Bond markets weakened (which pushes rates higher) yesterday afternoon, but only a handful of lenders issued reprices (new, higher rates, in response to intraday market movement). Today’s volatility was in our favor resulting in several lenders issuing POSITIVE reprices. Bonds made gains into the afternoon after Trump’s tax plan was released. Stock markets…(read more)

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Source: Mortgage News Daily

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