Mortgage rates unchanged to slightly higher

Just like yesterday mortgage rates were unchanged to slightly higher, according to the lender. And again, the differences in pricing strategies depend on timing in conjunction with yesterday’s pricing decisions.

Lenders who responded to yesterday afternoon’s bond market losses by raising rates were able to offer a flat offer at slightly inferior rate today. All other lenders were either flat or slightly higher.

As is often the case, we talk about incredibly small movements overall (because mortgage rates are not moving reliably enough to be worth measuring in overnight terms). Potential borrowers will likely see the exact same rates as yesterday. The only differences would be slightly higher or lower initial costs.

The average lender is still able to offer leading 30-year conventional fixed rates below 3%, but the first week of August was still significantly better.

The following big, obvious One source of potential volatility for the bond market (and therefore rates) is the government’s Big Jobs report on Friday. In general, stronger job creation coincides with upward pressure on rates. Markets showed willingness to react to such data after a similar report from ADP turned weaker than expected (bonds were showing even higher rates today before that).

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