Mortgage rates were completely flat versus yesterday's offerings to begin the day but several lenders recalled rate sheets for negative revisions as markets deteriorated in the afternoon.  MBS Prices (the "mortgage-backed-securities" that most directly influence mortgage rates) were in modestly positive territory for most of the day, but fell abruptly in the afternoon.  When MBS prices move lower, it can prompt lenders to adjust rate sheet pricing lower as well, effectively raising interest rates.  That said, the actual interest rate quoted for any given scenario isn't likely to have changed between yesterday and today, with the main difference being seen in slightly higher closing costs (or lower lender credit).  Conventional 30yr Fixed Best-Execution rates remain in transit between 3.375% and 3.25%. 

Mortgage rates moved higher at their fastest pace in over two weeks following Friday's Employment Situation Report.  In a historical context, the losses were moderate as the range of available rates continues to be uncommonly narrow.  Additionally, many lenders repriced to higher levels with yesterday afternoon's weakness, and in those cases, the day-over-day damage is less severe.  The most prevalent and efficient rate quote for an ideal scenario was in the process of edging down to 3.25% for 30yr Fixed, Conventional Loans before yesterday's weakness.   Since then, 3.375% has crept back into the picture as a Best-Execution rate, but 3.25% is still viable depending on the lender and scenario.

Mortgage rates are very slightly lower today compared to Friday's latest offerings.  There was no relevant economic data to motivate market movements and only a few headlines regarding the Fiscal Cliff that seemed to catch anyone's attention.  In general, markets are waiting for more important news, both in a general sense regarding the Fiscal Cliff as well as specific news on Wednesday afternoon which brings the Fed's policy announcement.

Mortgage rates are little changed from Monday.  Some lenders' rate sheets are slightly improved versus yesterday's, but a majority offered just slightly weaker rates.  Today's political and economic events in the US were of little consequence to bond markets, including the secondary mortgage market.  Instead, interest rates were broadly higher right out of the gate due to overnight pressure from positive developments in Europe.  That said, and to reiterate, the overall movement was quite small and markets generally maintain a tight, sideways stance ahead of tomorrow's FOMC Announcement.  Best Execution remains between 3.375% and 3.25% depending on the lender and scenario.

Mortgage rates are higher on average after today's monetary policy announcement from the Federal Reserve.  Some lenders adjusted rates higher in the afternoon while others remain on their first rate sheet of the day.  That has made for a bit of stratification in rate offerings between lenders and depending where one looks, rates might not be much different from yesterday (and in rarer cases are in better territory).  Best-Execution remains split between 3.25% and 3.375%.