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Mortgage Rates Move Lower After 2-Day Rout, But Underwhelmingly So

Mortgage Rates Move Lower After 2-Day Rout, But Underwhelmingly So

Wednesday was one of the worst days in decades in terms of single-day upward movement in mortgage rates .  Thursday added a bit more insult to the injury.  The resulting levels were the highest since November 2023.  We should be thankful, then, that Friday managed to push back in the other direction, but it would be easier to be a lot more thankful if the improvement was a bit more robust. Of course, things could have been worse.  We could have continued to even higher rates, so the lamentation here is a being intentionally dramatized a bit.  Nonetheless, it's a worth noting that the average lender is still basically right in line with the levels that broke our hearts on Wednesday afternoon. The optimists out there can cheer the fact that we mostly erased Thursday's additional bump
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