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Mortgage Rates in Drift Mode

Posted To: Mortgage Rate Watch

Mortgage rates didn’t do much today. The average lender was effectively unchanged from yesterday. The same could be said yesterday, and the day before that, and so on and so on… The only major adjustment to rates in recent weeks has been the abrupt spike of roughly 0.15% that occurred for some lenders when they re-implemented the new adverse market fee. Not sure what that is? Get caught up HERE . The adverse fee will continue working its way through the industry in the coming weeks. No lender is immune. This presents a great opportunity to lock refinance loans if you have one in process with a lender who has yet to bring the fee back. Once the fee is back in play for every lender, we could see rates relax just a little–at least enough to notice. The rationale is that there’s currently a…(read more)

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