From Matthew Graham at Mortgage News Daily: Mortgage Rate Rally May Be Pausing
First things first: the average mortgage lender improved modestly today, compared to last Friday’s levels. This leaves mortgage rates at their lowest levels in several months. That’s great news and indeed, the last few weeks have been the best few weeks we’ve seen in more than a year. That having been said, we’re now reaching the stage where the strong move in underlying financial markets may be running out of steam. [30YR FIXED – 4.75%]
emphasis added
Click on graph for larger image.
This is a graph from Mortgage News Daily (MND) showing 30 year fixed rates from three sources (MND, MBA, Freddie Mac).
The MND 30 year fixed rate is at the same level as back in May 2018 (4.75%).