Lenders repriced for the better yesterday afternoon following a late day sell-off in stock markets which pushed mortgage-backed security prices to new record highs. Once new rate sheets were distributed, loan officers were able to offer the most aggressive pricing of the year to borrowers who had not yet locked-in their mortgage rate. At the end of the day, most mortgage investors were offering well-qualified consumers 4.5% rates on conventional 30 year fixed loans. No new headline economic reports were released today. The only event on the schedule was the first of three Treasury auctions. At 1pm, the Treasury Department announced the results of the $36 billion 3-year note auction. Strong, stable demand for our nation’s debt is one of several factors that have attributed to record low…(read more)
Click Here to Get Great Rates And A Speedy Approval From Lending Tree Without Any Hassels.
Go to Source
|