Monday Morning Mortgage Interest Rates 04_12_2021

    Monday Morning Mortgage Interest Rates 04_12_2021

    Apr 16, 2021

    Mortgage Rates had another decent day on Friday with

    the average lender offering modestly better terms

    compared to earlier in the week. Improvements continue

    to arrive in fairly small doses, but they've been adding

    up.

    You'd have to go back nearly a month to March 12th to

    see anything definitively lower (although it's worth

    noting that today's rates are also roughly in line with

    those seen on March 25th).

    As far as specific levels, lenders remain widely stratified

    with purchases being quoted in a range of 3.125-3.250%

    and refinances in a range of 3.250-3.375 (conventional,

    30yr fixed).

    Friday's specific events and economic data releases did

    little to motivate the gains seen in rates, although a

    a report showing higher-than-expected Initial Jobless

    Claims technically agree with the move.

    There were also several Fed speakers offering

    reassuring comments about the central bank's intent to

    continue with policies that are currently keeping rates

    lower than they otherwise would be. Ultimately,

    however, it will be up to the course of the pandemic and the

    economy to determine the longer-term rate trajectory.