Mortgage Rates Idle

Mortgage rates had no legs today as they went, then down, and then up… but all in the same narrow range that did not really make that much of a difference today.  After this morning’s report and the data that was reported, it was sort of a blah day that allowed me to catch up on paperwork and not worrying what was not happening in Washington.

Indeed, we have seen rate volatility both this week and last, but in all reality, we are still not where we were at the end of June.

In summary, bit of a lost day in bond markets, as both MBS and treasuries essentially idled in place Thursday.  Typically, we see some month end buying demand (pushing rates down), but not so much this month.  It appears there's little motivation for significant improvement here, so I'll stick with locking all but the most risk-seeking clients early in the loan process.  When there's no clear trend, it's not our friend!