Available 7 Days/Week       MON - FRI  8am - 7pm       SAT - SUN  10am – 6pm
Call us (888) 259-2257
Apply Now

Mortgage Rates Begin The Week Slightly Higher

Mortgage rates moved slightly higher to begin the holiday-shortened week.  With Labor day being a bank holiday, mortgage lenders were closed yesterday despite much of the world remaining open.  Futures and overseas markets thus had some extra time to distance themselves from Friday’s latest levels.  In today’s case, that distance was in an unfriendly direction for rates.

The damage is minimal in the bigger picture.  On average, lenders are quoting the same rates seen last week, but with slightly higher closing costs today.  Most of the weakness in the underlying bond market is centered on US Treasuries as opposed to the mortgage-backed securities (MBS) that serve as the foundation for mortgage rates.  The Treasury-specific weakness is likely due to the presence of several big Treasury auctions this week in addition to heavy corporate bond issuance (which tends to hurt Treasuries more than MBS).

…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Fidelity Home Group | Mortgage News | Mortgage Rates

#fidelityhomegroup, #homebuyerexperts, #mortgagerates #mortgagenews # mortgage, bond markets, Interest Rates, mortgage rates


Copyright © 2022 Fidelity Home Group supports Equal Housing Opportunity | All Right Reserved  | NMLS Identifier 1834853. Fidelity Home Group is not affiliated with the Department of Housing and Urban Development (HUD) or the Federal Housing Administration (FHA). Fidelity Home Group is a Mortgage Corporation serving the state of Florida. Not intended for legal or financial advice, consult your own professionals if such advice is sought. This site is not authorized by the New York State Department of Financial Services. No mortgage loan applications for properties in the state of New York will be accepted through this site. Accessibility Statement  | Consent to Receive Electronic Loan Documents  |  Cookies Policy   |  Disclosures  | Email and Mobile PolicyFair Lending Policy  |  File a Complaint Mortgage Assumptions  |  NMLS Consumer Access  |  Privacy Policy  |  Terms of Use