From Matthew Graham at Mortgage News Daily: Mortgage Rates Roughly Unchanged Over The Weekend
Mortgage rates faced a very small threat of a very small increase this morning. The underlying bond market was in weaker territory to start the day and that typically means mortgage lenders raise rates. Indeed, many lenders were slightly higher at first.
But just as the first lenders were publishing rates for the day, the ISM Manufacturing Index (an important economic report that often causes a reaction in bonds) was released. The results were good for bonds, thus allowing mortgage lenders to set rates in line with Friday’s latest levels, on average…. [30 year fixed 6.74%]
emphasis added
Tuesday:
• No major economic releases scheduled.
