Mortgage Rates Spend Week Recovering from 2010 Highs
Posted To: Mortgage Rate Watch
Mortgage rates rallied yesterday morning but lost positive progress after the Treasury auctioned $13 billion 30 year bonds. Following the release of auction results, mortgage-backed security prices were led lower by weakness in the benchmark Treasury note market. This forced a few lenders to reprice for the worse, but not all. For the most part, mortgage rates were unchanged on the day. The economic calendar was essentially empty today. MBS prices opened lower but recovered by mid-day. Reprices for the better were reported but nothing widespread. Reports from fellow mortgage professionals indicate lender rate sheets to be marginally better when compared to loan pricing yesterday. The par 30 year conventional rate mortgage is however still i the 4.875% to 5.125% range for well qualified consumers...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.