Monday Morning Mortgage Interest Rates 04_12_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
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,
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.