Mortgage Rates Rise At Fastest Pace In A Week

Posted on Oct 16, 2012

Mortgage rates rosehigher on Tuesday, rising at afaster pace than Monday, and reversing two days of improvements at the end of last week.  The change in rates versus yesterday had little to do with any market events during domestic hours.  Rather, bond markets simply began the day in weaker territory and trading in the secondary mortgage market sustained those weaker levels throughout the day. 
While this has kept us relatively insulated from mid-day price changes, the outright weaker levels in the morning resulted in Best-Execution rates for 30yr Fixed Conventional Loans inching back up to 3.375%.  Several lenders are still priced well enough for 3.25% to be a viable option depending on the scenario whereas others are well into 3.375% and would soon be approaching 3.5% if the weakness continues.

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