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It was another volatile day for both stocks and interest rates. The ups and downs in the market forced lenders to reprice for the worse, and allowed lenders to reprice for the better. All in all mortgage rates are modestly improved again today. Reports from fellow mortgage professionals indicate lender rate sheets to be holding at the most aggressive levels of 2010. ...

Reports from fellow mortgage professionals indicate improved rate sheets this morning. The par 30 year conventional rate mortgage has dipped to the 4.75% to 5.00% range for well qualified consumers.If you have been floating your rate for some time, you have picked up noticeable gains over the course of the week. With that in mind, there is nothing wrong with taking your chips off the table by locking your loan now. If you have been waiting to pull the trigger for mortgage rates to decline back to the low’s of last year, I would suggest that you stop waiting...LOCK NOW. While I am not totally against floating into tomorrow, I think recent gains justify some profit taking....

The theme in the secondary mortgage market this week has been volatility. Prices of mortgage backed securities have moved around a wide range as traders attempt to balance their uncertain long term economic outlooks with optimistic short term sentiment in stocks. This ongoing struggle has mostly insulated mortgage rates from movements in related markets, but not totally. Today, mortgage backed securities opened lower in price and most lenders moved mortgage rates higher. ...