Mortgage ratesÃ‚Â are officially checked out for the holidays. Ã‚Â Today marked the third straight day with very little change from the previous day’s rates, despite plenty of justification from market movement. Ã‚Â This worked against us yesterday as markets suggested lower rates, but it worked in our favor today as bond markets were slightly weaker (bond weakness implies higher rates). Ã‚Â In general, lenders have rates set a bit higher than they otherwise would be during a more active time of year, and thus don’t need to worry about adjusting rates too much in either direction, unless markets make a much bigger move.
4.375% remains the most prevalent conventional 30yr fixed quote for top tier scenarios. Ã‚Â Several lenders still up at 4.5%. Ã‚Â The average effective rate is just a hair under the highest levels since April 2014.