Industries

Mortgage Rates Rise Gently From 7-Month Lows

Posted To: Mortgage Rate Watch

Financial markets are still reeling from political headlines that first began circulating on Tuesday afternoon. While stock markets made a reasonable attempt to retrace yesterday’s big move lower, bond markets weren’t as interested. Fortunately, that means mortgage rates moved modestly higher , leaving them fairly close to yesterday’s 7-month lows. On Tuesday morning, well-priced lenders were quoting conventional 30yr fixed rates of 4.0-4.125% on top tier scenarios. Over the past 2 days, the same scenarios were in the 3.875-4.0% range. An eighth of a percentage point is a big move for mortgage rates–especially in 2017 when the range hasn’t been very much wider than a quarter point. It’s the sort of improvement that provides strong incentive for risk-averse borrowers to lock . Then there’s…(read more)

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