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Mortgage Rates Trying to Find a Ceiling; Investors and Low-Doc Pushing Credit Risk Higher

Mortgage Rates Trying to Find a Ceiling; Investors and Low-Doc Pushing Credit Risk Higher

Mortgage rates were decidedly higher this morning, with most lenders back above last week's highs. At the time, those were the highest rates in more than a month, although the range has been relatively narrow. Underlying bond markets improved throughout the day, however, resulting in a fair amount of lenders revising rate sheets for the better. After those revisions, rates are pretty close to yesterday's levels. One thing's for sure: the average lender is still definitively higher compared to last Friday's rates. Keep that in mind if you encounter one of the many news stories citing "unchanged" week-over-week rates from Freddie Mac's Survey (which, as you may have guessed, can run a bit behind more up-to-the-minute changes). From a strategy standpoint, today's resilience is a welcome sight
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