Posted To: Mortgage Rate Watch
Mortgage rates were moderately lower today, keeping them well-within the dominant range of the past 2-3 weeks. Compared to yesterday, lenders would be just slightly more likely to quote 3.375% on top tier conventional 30yr fixed scenarios compared to 3.5%, but both rates have equally prevalent in general. Today’s improvement came courtesy of a policy announcement from the Bank of England (BOE). Naturally, the BOE is not in charge of mortgage rates in the US. Even the Federal Reserve can’t quite make that claim. But… The actions of the world’s biggest central banks are the most important factors when it comes to general momentum in interest rates around the world. Simply put, the BOE said it will be buying more bonds than expected. More bond buying results in lower rates–all other things…(read more )