April 17, 2021

MP Now News

Mortgage News

Mortgage Rates Snap Back to Recent Highs Before Recovering

There are some interesting developments for Mortgage rates today – especially in the face of it the noticeable discrepancy of the past week between Freddie’s weekly poll and frontline reality. The Freddie poll in particular has finally done a little more to keep up with reality as it took one of the biggest leaps in recent times to the highest levels since early last summer. At the same time, the actual prices had theirs best week of the year and their first week of winners since January 24th.

Fast forward to the new week and we may prepare for a reflection of the past week. In other words, the rates were likely low enough yesterday for most of Freddie’s survey responses to show a decent drop from week to week when the results are released on Thursday. Compare that to the reality on the street where the lender is one big bite out of loan pricing with the weakness of today’s bond market. The net effect was that highest average 30 year fixed rate We have been enrolled for more than a year, but the afternoon bond market rebound (and the positive reprisals that followed) will reduce this again somewhat.