Mortgage rates fell today. The move wasnt big, but it was enough to claim the 5th best spot of 2014. The 4 other days were consecutive and began on December 12th. While this is a positive turn of events, its not the product of any great determination on the part of market participants. Thats easy enough to see due to the fact that market participants are largely absent relative to non-holiday weeks. Perhaps even more interesting than today being a top 5 day is that it fully erases the small spike in rates that began on Tuesday of last week. Wednesday morning wasnt great either, but as hoped, that was the worst of it and rates have eased lower every day since then. The current movement doesnt really speak to any longer term trends, but its a welcome recovery nonetheless. The most prevalently-quoted conforming 30yr fixed rate is now back down to 3.875% with some lenders at 3.75% for top tier borrowers. The Mortgage News Daily
Posted on: Tue, 30 Dec 2014 23:53:10 +0000
Trending Topics
Recently Viewed Topics
© 2015