Monday, April 20, 2015

Mortgage News Daily: Mortgage Rates Slide Sideways Again

by Bill McBride on 4/20/2015 05:03:00 PM

From Matthew Graham at Mortgage News Daily: Mortgage Rates Slide Sideways Again

Mortgage rates figure if they can't be pushing down to new record lows, they might as well pass the time by shooting for different records. This time around, it's the record for FLATNESS! We calculate an average 30yr fixed conventional rate every day based on the sweet-spots on multiple lender rate sheets. This gives us an 'effective rate' to track that typically falls between the two most common rate quotes in the market. For instance, the current computed rate is 3.66% and the two most common quotes are 3.625% and 3.75%. On 9 out of the past 10 days, that effective rate has moved an average of 0.01% per day. In terms of day-to-day rate movement over time, this is about as flat as it gets!
Here is a table from Mortgage News Daily: