Mortgage Rates Little-Changed to Start New Week
It was a fairly uneventful day for mortgage rates to start the new week. The underlying bond market was slightly stronger. This suggests slightly lower interest rates. The average mortgage lender lowered top-tier 30yr fixed rates by 0.01% compared to Friday.
Underlying motivation for the bond market can mostly be attributed to lower oil prices, which have been a common source of intraday inspiration for better or worse.
With today's drop, the average lender remains right in line with the rates they offered before last week's Fed rate hike.
Mortgage Rate Trends
Source: Freddie Mac & U.S. Treasury via FRED — Past 12 months
Rate chart unavailable.
Originally reported by Mortgage News Daily.
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