Mortgage Rates Fell Back to 2014 Lowest Levels

Mortgage rates fell back to their lowest levels of 2014, with most lenders in similar territory to last Friday.  Market movement was moderate, but grew increasingly positive for MBS (the mortgage-backed-securities that dictate lenders' rates) as the day progressed.  As such, some lenders released positive mid-day reprices.  Before those, rates were just slightly higher on average.  The most prevalently quoted conforming 30yr fixed rate for best-case scenarios (best-execution) remains at 4.25%, and is currently closer to 4.125% than the previous rate of 4.375%. Today's improvement was seen in the form of slightly lower closing costs.  That change in costs equates to an effective rate change of 0.02%.