Mortgage rates continued flying their recent holding pattern just over 4 percent. Most lenders' rate sheets were essentially unchanged compared to yesterday's latest. Additionally, we never saw enough bond market movement during the course of the day to justify any mid-day changes. The most prevalent Conforming (best-execution) has been pinned to 4.125% with very little change in associated closing costs for a week now.
Because most lenders adjust rates in 1/8th (0.125%) increments, the next time the best-execution quote moves lower, 30yr fixed rates will be back at 4.0%. Some lenders are offering that now, but it's not the norm, and may involve additional closing costs.
mortgage rate watch
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