Mortgage Rates Little-Changed to Begin The Week

Mortgage rates didn't move much today.  Lenders who made changes to Friday's rate sheets generally did so toward slightly higher rates.  Actually, it would be more precise to say those lenders raised upfront costs associated with any given rate.  This is typical on days where the broader rate market is slightly weaker, but not weak enough for mortgage lenders to adjust mortgage rates by the standard 0.125% increment.

In the bigger picture, this leaves the average lender quoting conventional 30yr fixed rates of roughly 5% on top tier scenarios.  

There were no major developments or economic reports to move the bond market (which underlies rates) today.  The rest of the week is on the light side as well, but things pick up on Thursday and Friday.

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