Posted To: Mortgage Rate Watch

Yesterday marked the first day in 2012 where Mortgage Rates increased by any sort of statistically significant amount. Even so, it was only significant in the context of the recent extreme flatness at all-time lows. Today's action was right back to "insignificant," at least as far as averages are concerned. Factoring out one notable lender whose costs rose a bit more than the rest and the averages would be slightly improved today. More important than any of this nitpicking is that the day-over-day movements in mortgage rates have been anything but extreme. Indeed, the 3.875% Best-Execution rate remains intact, and as has been the case for weeks, the day to day changes that we measure have been to the borrowing/closing costs associated with obtaining prevailing rates. Bond markets generally...(read more)