by Calculated Risk on 9/14/2022 05:38:00 PM
From Matthew Graham at MortgageNewsDaily: Boring Day For Rates, But Not “Good” Boring
Lenders continue to offer rates in the low to mid 6% range. Many loans continue to require a historically high amount of upfront cost due to pricing constraints in the mortgage bond market (i.e. investors aren’t offering premiums to buy loans that run a high risk of being paid off the moment rates drop enough for a refi to make sense).
This is a graph from Mortgage News Daily (MND) showing 30-year fixed rates from three sources (MND, MBA, Freddie Mac) over the last 5 years.