Posted To: Mortgage Rate Watch

Mortgage rates had been moving higher over the past few days. The average lender was at the highest levels of the month as of yesterday morning, but things began to change shortly thereafter. Today’s market movement added to the friendly momentum after the big jobs report came out slightly weaker than expected (in general, weaker economic data is good for rates). By the end of the day, the average lender had erased yesterday’s weakness, but didn’t quite make it back to the levels seen on Monday and Tuesday. That said, I’m splitting hairs by pointing out any difference between the two. The bigger picture continues to be the more interesting point of consideration. For every rate-friendly anecdote there’s an equal and opposite counterpoint at the moment. This jives perfectly with the intensely…(read more)

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Source: Mortgage News Daily