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Mortgage Rates Edge Higher

Mortgage rates fell to their lowest levels since late May as of last Friday.  Today, then, would be the 2nd best day since late May.  Rates edged slightly higher to begin the new week as bond markets (which underlie rates) came under modest pressure for several relatively inconsequential reasons.  The net effect was a small adjustment in the upfront costs associated with prevailing rates.  In other words, the actual interest rate governing your monthly mortgage payment hasn't changed in weeks, but the upfront costs tied to that rate are slightly higher for lenders today compared to last Friday.

This Daily Mortgage Rate Update is provided in partnership with Mortgage News Daily.