A Rare Winning Streak For Rates, But Don’t Get Excited

A Rare Winning Streak For Rates, But Don’t Get Excited

Now here's a rare thing! Mortgage rates managed to move lower, on average, for the 2nd consecutive business day on Monday.  That hasn't happened for roughly 3 weeks, and you'd need to go back another 3 weeks to see the previous example.  So that's the first caveat: these winning streaks have been few and far between.  The second caveat is that winning streaks have been punctuated by much larger losing streaks.  The one that ended last Thursday brought rates easily to their highest levels in more than 20 years. If you've enjoyed those last two counterpoints, let's make it three.  Each of the past 2 "wins" has been fairly small--almost insignificant in the big picture.  The average lender is still over 7.25% for top tier conventional 30yr fixed scenarios.  Additionally, the impro