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Rates Bounce Back to 4-Month Highs; New Home Sales Rose in Sep; Pause For Reflection

Rates Bounce Back to 4-Month Highs; New Home Sales Rose in Sep; Pause For Reflection

Mortgage Rates remained under pressure today, moving right back to the highest levels in more than 4 months after only one day of recovery. This might not have been readily apparent on most of the day's rate quotes because things didn't deteriorate meaningfully until late in the afternoon. In fact, for several lenders, it was too late in the day to issue a reprice (i.e. a new rate sheet on any given day, typically prompted by big moves in bond markets). When that happens, those lenders simply adjust for the market movement on Monday morning. In quantitative terms, even after lenders made their adjustments, rates aren't too much higher than they were on Wednesday. Conventional 30yr fixed quotes are still going out around 3.625% on top tier scenarios. The only changes would be seen in the form
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