Mortgage Rates Hold Recent Lows; Fannie and Freddie May Get Another Jumpstart

Mortgage Rates Hold Recent Lows; Fannie and Freddie May Get Another Jumpstart

Mortgage rates moved slightly lower today, despite movement in bond markets that would have suggested otherwise. The paradoxical strength is likely due to the fact that bonds improved faster yesterday without mortgage lenders adjusting rate sheets accordingly. In other words, we began the day with an advantage thanks to lenders being overly cautious yesterday. From here we could even see a few lenders adjust rate sheets for the better as bonds have managed to find their footing at the end of the day. To put this talk of "improved rates" in context, many prospective borrowers would not see any difference between today's loan quotes and yesterday's. Some lenders didn't make any changes. Others merely offered modest reductions in upfront costs. It's only when we look at the average lender and