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Lender rate sheets were slightly worse than yesterday but nothing monumental. The best par 30 year fixed -conventional, FHA and VA- mortgage rate remain in the 4.25% to 4.50% range with several lenders offering 4.125%. 15 year fixed rate loans also remain in the 3.75% to 4.00% range. ...

Even though economic data was WORSE THAN EXPECTED this morning, which usually benefits the fixed income sector and mortgages, interest rates continue to take their directional guidance from stocks. Specifically, when stocks rise, mortgage rates rise. When stocks fall, mortgage rates fall. Well stocks rallied big time today, lenders repriced for the worse, and mortgage rates rose for the second day in a row....

Mortgage rates bounced back and forth in a relatively tight range before going out at their highest levels of the week last Friday. Although prices of mortgage-backed securities managed to rally of their lows of the day, most lenders did not reprice for the better. Reports from fellow mortgage professionals indicate lender rate sheets to be improved from Friday. The par 30 year conventional rate mortgage does remain in the 4.875% to 5.125% range for well qualified consumers though. When evaluating the risk/reward of floating, you have very little to gain by floating and a lot to risk. We have several high impacting events taking place this week which could pressure mortgage rates higher very quickly. With that in mind, if you need to decide on locking or floating in the next week or are within 15 days of closing, I would lock today. If you have a longer decision making timeline, I am floating on a day to day basis. ...

It was a very slow day in the mortgage market. Mortgage-backed security prices opened lower which forced many lenders to publish mortgage rates higher than they were set on Friday. However, modest improvements in benchmark Treasury yields helped MBS prices recover from intra-day price lows. This allowed some lenders to republish rates for the better after lunch. Reports from fellow mortgage professionals indicate lender rate sheets to be improved from Friday. The par 30 year conventional rate mortgage does remain in the 4.875% to 5.125% range for well qualified consumers. After the reprices for the better there are a few lenders offering 4.75%. ...

Mortgage rates continued to rise yesterday as benchmark Treasury yields moved higher and prices of mortgage backed securities fell. MBS opened the day weaker and extended losses all the way into the close, forcing most lenders to reprice for the worse. By the end of the day, the par 30 year fixed mortgage rate had climbed to 4.875% (a couple of lenders had 4.75 but only a few). Unfortunately weakness in the rates market has carried over into today...benchmark Treasury yields are still on the rise and mortgage rates continue to creep up. To remind readers, as MBS prices move lower, lenders are forced to increase consumer borrowing costs. ...

While benchmark interest rates continue to chop around in a contained range, mortgage-backed securities have moved sideways, failing to make much progress in either direction. Although we have experience a few moments of added volatility, tight trading ranges have kept and generally "topped out" MBS prices have kept mortgage rates stable all week, near six month lows. As previously stated, MBS prices are hitting a ceiling, unable to make enough progress to push mortgage rates any lower. Therefore, if you are still floating, it is time to take advantage of the aggressive rates lenders are currently offering. Eventhough there is room for benchmark Treasury yields to move lower heading into year end, we do not expect MBS prices to benefit from continued gains as the recent strong performance of mortgages has many investors thinking about profit taking....