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Mortgage Rates Recover Yesterday’s Losses

Mortgage rates fell today, recovering yesterday’s losses on average.  Some lenders’ rate sheets were just slightly better or worse than yesterday’s latest, but nearly every lender had been worse this morning before releasing revised rate sheets in the afternoon.  30yr fixed best-execution remains at 4.375%, though 4.25% continues to make sense for some scenarios, depending on the difference in cost from 4.375% and personal preference.

The promise of an end to the government shutdown took center stage today, helping both stocks and bonds improve vs yesterday.  The full effects of a finalized deal won’t be known until tomorrow, assuming the House and Senate pass the legislation tonight, as expected.