Posted To: Mortgage Rate Watch
Mortgage rates moved higher today, but not by very much, considering the amount of movement seen in other corners of financial markets. For instance, 10yr Treasury yields–one of the better indicators of mortgage rate movement over time–were 0.07% higher today. Mortgages weren’t even 0.02% higher, and some lenders weren’t higher at all. The most noticeable rise in rates was seen in the lowest range of conventional 30yr fixed quotes of 3.25-3.375%. Both rates remain available today on flawless scenarios, but 3.375% is slightly more prevalent than it had been on Friday. Lock vs Float Perspective It was reassuring in the bigger picture to see rates steady-to-slightly-improved even after Friday’s strong jobs numbers. Holding that ground meant there was less risk of an abrupt move higher in rates…(read more )