Mortgage rates were almost perfectly unchanged again today, meaning they haven’t really changed in more than a week. All this despite a rather noticeable improvement in underlying bond markets (something that typically goes hand in hand with lower mortgage rates). Granted, the bonds that underlie mortgage rates didn’t do quite as well as US Treasuries, but even then, mortgage rates barely budged. It probably has more to do with a phenomenon we discuss fairly frequently whereby the improvements in bonds over the course of the day aren’t quite enough to get lenders to change their rates in the middle of the day.
Source: Mortgage News Daily