Best 2 Days For Mortgage Rates Since March Ahead of Jobs Report
The stratification of rate offerings between lenders is very high due to rapid changes over the past few days and weeks. On average, top tier conventional 30yr fixed rates have fallen more than 3/8ths of a percent since Tuesday afternoon.
You'd have to go back to the days following the failure of Silicon Valley Bank in March to find a bigger drop in mortgage rates over a 48 hour time frame. That is quite something and perhaps even a bit of a puzzler given the underlying data and events driving the current move.
To be fair, we can talk about several important reasons for the rate movement, but suffice it to say that if we had to guess how the underlying events would affect rates without actually getting to see the move in rates, our guess would have been much smaller.
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