Return to Industry News Index
Return to Industry News Index
New Homes Journal - kc

Home —— Communities —— Builders —— Industry News —— Resources ——

Financing/Insurance —— Profiles —— Contact Us

 

 

 

Home —— Communities —— Builders —— Industry News —— Resources —— Financing/Insurance —— Profiles —— Contact Us

Mortgage Rates Near Friday's Levels After Volatile Day

Mortgage rates began the day Monday in much better shape compared to Friday's latest offerings...

...but market volatility in the afternoon prompted most lenders to reprice. The net effect was a rate sheet environment that ended up in similar territory to Friday though a small portion of the improvement remained. This keeps Conventional 30yr Fixed best-execution remains at 4.5%. Buydowns to 4.25% continue to make sense for some scenarios, and rates in general are at or close to their best levels since July 23rd.

Monday's volatility was the pure product of financial market volatility. There were no 'cause and effect' relationships between headlines, events, and the resulting movement in interest rates. The willingness to move at a brisker pace on Monday, foreshadows the rest of the week's potential volatility. Unlike last week,

...read the entire article

by Matthew Graham