Mortgage ratesÂ set new 2017 lows for the third straight day today, although only in terms of "effective rates" (which take upfront costs into account). Â "Note rates" (which simply refer to the rate applied to one's loan balance) are unchanged from yesterday, with most lenders continuing to quote 4.0% for top tier conventional 30yr fixed scenarios. Â There are still quite a few lenders quoting 4.125% and a very small minority already down to 3.875%. Â
There were no new motivations for bond market movement (which dictates rates) today, but in general, rates have benefited this week from geopolitical risks and Trump's comments on the strength of the US dollar yesterday. Â Markets will close early today in observance of the Good Friday holiday and will be closed tomorrow. Â Banks will also be closed, which means no potential mortgage rate movement until next Monday.