Mortgage RatesÃ‚Â were unchangedÃ‚Â today despite a fair amount of weakness in the bond market. Ã‚Â Rates typically rise when bonds weaken. Ã‚Â The absence of volatility is partly due to the fact that lenders didn’t rush to offer improved rates on Friday afternoon when bonds strengthened. Ã‚Â In the simplest terms, bond markets are right in line with Friday morning’s levels and so are mortgage rates. Ã‚Â Bonds have experienced some volatility between now and then, but lenders haven’t chased it.
This notion of lenders being reluctant to adjust prices to every little market fluctuation is important.Ã‚Â