Posted To: Mortgage Rate Watch

Mortgage rates moved slightly higher today, leaving them roughly in the middle of November’s narrow range. Although banks and many mortgage lenders will be open on Friday, lenders won’t be as eager to respond to improvements in the bond market as usual. In fact, more than a few lenders don’t make any changes to rates on the day after Thanksgiving regardless of market movement. The bottom line is that we’re on hold until at least the first week of December when it comes to the risk of any major departure from this range. Loan Originator Perspective I favor locking today. Bonds have touched on a floor of 1.74 and appear to not want to break through. With many trade war headlines hitting, I think locking in today with the improved pricing is the way to go. Have a happy Thanksgiving! – Victor Burek…(read more)

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Source: Mortgage News Daily