As we said last week, rates could be on the move this week and they did not disappoint. We moved down to the lowest levels since October of last year. We will end the week with 5.875% costing just one-eighth of a percent in discount points on our best 30-year fixed conventional scenario.
It was another very mild, somewhat boring week for mortgage markets, at least as actual data is concerned. Hardly any change to rates at all, so we will end the week still at 6.125% for our best 30-year fixed conventional scenario.
Inflation was the headline economic data point this week. One report was right in line; another was a bit higher than expected but had minimal impact on rates. All in all, we will end the week pretty much right where we started at 6.25% for our best 30-year fixed conventional rate.
It was a quiet week for mortgage news. There wasn’t much going on as far as economic news goes, so markets were very calm. We are still at 6.25% for our best 30-year fixed conventional scenario.
Mortgage rates finally started to move off center this week and they moved in a favorable direction. We moved down to 6.25% for our best 30-year fixed conventional scenario.
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