Mortage rates had been moving upward since late last week. However, by the the close of Wednesday, they were beginning to flatten out. Here’s more from Mortgage News Daily:
Mortgage rates were almost perfectly flat today, ending a 4 day trend higher, for now. That trend began on Thursday and of course saw it’s biggest surge after Friday’s Job’s report. Rates continued drifting higher to start the current week, but at a lessened pace. The drift leveled off today after bond markets hit their weakest levels earlier this morning. Naturally, Conventional 30yr Fixed ‘best-execution‘ remains at 3.5%, and with no change to average borrowing costs.
All and all, at 3.5% mortgage rates remain near all time lows. As with the stock market, mortgage rates continue fluctuate widely. Learn more about mortgage rates, best execution rates, and more at Mortgage News Daily, a great source for mortgage information.