Mortgage Rates Higher Still; Intraday Volatility Increasing

Posted To: Mortgage Rate Watch

Mortgage rates continued higher today, bringing the average 30yr fixed rate to another new multi-year high. That said, rates may vary quite a bit from lender to lender for several reasons. First, intraday volatility is back with a vengeance. For much of 2017, lenders were less likely to change rates in the middle of the day than to simply leave the morning rate sheet intact through all the little ups and downs in bond markets. Now that those ups and downs are getting bigger, lenders are much more willing to reissue rate sheets–sometimes several times a day. In today’s case, rates began at the worst levels in more than 4 years , but mid-day bond market improvements allowed quite a few lenders to offer better rates in the early afternoon. Those afternoon rates were thus slightly lower than …(read more)

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