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Harvey Hits Mortgages; ARMs Will Rise Again; Listless Apps; 2nd Best Day For Rates

Harvey Hits Mortgages; ARMs Will Rise Again; Listless Apps; 2nd Best Day For Rates

Mortgage rates were technically higher today vs yesterday, but unless you've been following day-to-day movements under a microscope, you probably won't mind. Reason being: apart from yesterday, today's rates are still easily the best we've seen since early November 2016. Most of yesterday's rate quotes will be the same, though the upfront costs may be slightly higher today. 3.875% remains the most prevalent top-tier 30yr fixed rate. In general, the bond markets that underlie mortgage rate movement have been doing a good job of maintaining their composure at the best levels of the year. Given that yesterday's improvement was motivated by unexpected headlines (North Korean missile launch) it wouldn't have been a surprise to see a sharper pull-back today. That said, the coming days are not without
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