Rates Are Great, But They Could Be Greater; Case Shiller: Housing Should be Doing Better
The world of mortgage rate analysis is both simple and complicated . On a simple note, rates are near long-term lows and they'll generally continue to follow the broader market for interest rates (which is largely based on US Treasuries, domestically). On the more complex note, mortgage rates aren't directly tied to Treasuries, don't move frequently throughout the day, and can vary from lender to lender. Due to those 3 factors, we get days like today where 10yr yields are down significantly (normally a good indication that mortgage rates will be down), yet some lenders are actually offering somewhat higher rates compared to last Friday! What's up with that? Generally speaking, the lenders who are worse off today are those who were more aggressively priced on Friday. Compare today to last Wednesday
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