The Smart Team of NOVA® Home Loans

Mortgage Rates Steady, Depending on Lender

Posted To: Mortgage Rate Watch

Compared to yesterday, today’s mortgage rates are a moving target depending on the lender. Some are better. Some are worse. On average, rates are unchanged from yesterday’s latest rate sheets. The variability has to do with yesterday’s fairly sharp losses in bond markets (which dictate rates). Lenders respond to that type of weakness in different ways. Some of them adjusted rate sheets aggressively yesterday. Those lenders are less likely to be showing higher rates today (because they already accounted for the market movement yesterday). Other lenders ended the day yesterday without fully adjusting their rate sheets to reflect the losses. Those lenders are more likely to be showing higher rates today. 4.25% remains the most prevalently-quoted conventional 30yr fixed rate for top tier scenarios…(read more)

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Source: Mortgage News Daily

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