Mortgage rates moved slightly higher this morning as stocks rallied and MBS prices ticked lower. About the time the 10-year note auction results were released stocks began to fall and interest rates improved, but not enough to warrant reprices for the better. However late in the day, right before the close, stocks sold off and MBS prices rallied to another new record high as investors moved money into risk averse U.S. Treasuries. This allowed lenders to reprice for the better which pushed mortgage loan pricing to the same levels seen yesterday. The par 30 year conventional rate mortgage remains in the 4.50% to 4.75% range for well qualified consumers.
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