Mortgage Rates Slightly Lower to Start The Week
While the news media bonfire on the recent LLPA tweak is only getting started, it's time for us to shift gears back to boring old mortgage rates (if you're not sure what that means, read my coverage of the LLPA stuff from Friday ). And while today's rate momentum was indeed boring, it was at least generally favorable for fans of low rates.
The average lender moved slightly lower in cost. The change was small enough that most borrowers will see it in the form of a modest reduction in upfront costs without any change in the quoted interest rate (relative to what the same scenario would have been quoted on Friday).
Rates dropped due to improvement in the bond market, but improvement in the bond market doesn't have a clear root cause as far as economic data or news headlines are co
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