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Average Homeowner Gaining Equity at Double-Digit Pace; Rates Only Slightly Higher Despite Bond Market Weakness

Average Homeowner Gaining Equity at Double-Digit Pace; Rates Only Slightly Higher Despite Bond Market Weakness

Mortgage rates were best described as " unchanged " today, although that may not be the case tomorrow. The afternoon hours saw bond markets (which dictate rate movement) come under some pressure. In the grand scheme of things, that pressure reinforces the narrow range we've been watching over the past few months. In the context of today's rate sheets, it was enough weakness for a few lenders to issue "reprices" (mid day rate changes--in this case, higher). Most lenders didn't raise rates today because bond markets didn't weaken enough to justify it. That said, the weakness still occurred, and unless things improve overnight, lenders will need to account for it in tomorrow morning's rates sheets. In other words, we start tomorrow with a bit of handicap, all other things being equal. In the morning
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