Posted To: Mortgage Rate Watch

Mortgage rates began the day right in line with Friday afternoon’s latest levels. Lenders likely would have been able to offer lower rates if the bond market hadn’t begun the day at weaker levels (bond market weakness = higher rates, all other things being equal). As the day progressed, bonds improved enough for most lenders to make positive adjustments. The so-called mid-day reprices left the average lender in just slightly better shape on the day. For perspective , today’s rates–apart from last Friday’s–are the highest in more than 6 months. Additionally, rates have been rising steadily since August, and relatively sharply since late September. This is occurring as the market prepares for the Federal Reserve to announce a reduction in its bond purchases on November 3rd (which has been so…(read more)

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Published On: October 25, 2021 / Categories: Mortgage News /