Mortgage Rates Flat Today, However Some Signs of Pressure – RocketNews

Home mortgage rates held consistent again today, keeping them in line with the most affordable levels in more than 3 weeks. They’ve likewise been uncommonly calm up until now this week, which certainly isn’t really a bad thing when we’re at 3-week lows. The calm pattern began revealing fractures at the end of the day in terms of underlying bond markets (motion in bonds ultimately dictates motion in mortgage rates).

Bonds began to damage in the afternoon. “Weakness” in bonds represents greater rates. To put the relocation in context, bonds are still in much better territory than they were on any day last week. Simply puts, the weakness is rather modest in the meantime.

The risk is that it represents some sort of shift since of bond trading habits over the past 2 days. To oversimplify a complex phenomenon, bonds (the ones we watch to get a bead on home mortgage rate movement) struck the very same obstructions for 2 days in a row, and remain in the early stages of returning in a less friendly direction. It could be a incorrect alarm, but up until they have actually reestablished a favorable trend (i.e. making development toward brand-new rate lows), it makes more sense to play it safe in regards to locking vs floating.Loan Pioneer Viewpoint Bond markets”protected in place”today, remaining mostly the same in spite of a popular treasury auction. MBS are near crucial resistance points at their 50 and 100 day moving averages, which may limit our brief term gains. I ‘d enjoy to see this rally continue, however it appears we’ll need some financial woes or geopolitical chaos for that to occur. Looks like a locking opportunity to me.– Red Rood, Senior Citizen Producer Today’s The majority of Widespread Rates 30YR FIXED– 3.875-4.0%FHA/VA– 3.75%15 YEAR FIXED– 3.25-3.375%5 YEAR ARMS– 2.75– 3.25%depending

on the lending institution Continuous Lock/Float