Posted To: Mortgage Rate Watch

Mortgage rates began the day moderately lower compared to yesterday’s latest levels. The size of the move depends on the time of day in question due to intraday movement in the bond market. Simply put, bonds improved steadily from the beginning of the day yesterday and ultimately peaked around 11am today. In general, bond market improvement correlates with lower rates. The first effect of this 2-day move was for the average lender to offer mid-day improvements yesterday. Those who did (a vast majority) were still able to offer even lower rates this morning. Lenders who did NOT offer mid day improvements yesterday made even bigger leaps toward lower rates. When the dust cleared, the peak to trough move accounted for almost an eighth of a percent of improvement. Tomorrow could add to the good…(read more)

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Published On: November 2, 2021 / Categories: Mortgage News /