Mortgage Rates recovered slightly today, after hitting the highest levels in nearly 5 months yesterday. Unfortunately, that leaves today’s rates with the dubious distinction of “2nd highest in nearly 5 months.” It continues to be the case that lenders won’t be eager to offer major improvements on rate sheets, even if underlying bond markets improve.
In other words, the current dynamic between market movement and mortgage rates is different than the norm. When bond markets are more stable, and especially when they’re not in the midst of a trend toward higher rates, lenders are more willing to adjust rates sheets such that they’re keeping logical pace with market movement. Right now, however, lenders have to be cautious about the risk that bond markets continue to weaken. They want to see a bigger, more sustained push back toward lower rates in bond markets before they’ll pass along meaningful reductions on mortgage rate sheets.
Some of the latest, local mortgage rates according to Bankrate.com are:
| Bank | Rate |
| Regions | 3.776% |
| Wilson Bank & Trust | 3.770% |
| Pinnacle National Bank | 3.521% |
| Citizens Bank | 3.777% |
| First South Bank | 3.768% |
* The above mortgage loan information is provided to, or obtained by, Bankrate. The rate is based on 30 year fixed rate mortgage and a loan of $300,000. Rates change often and your personal rate may differ from the above number based on your qualifications. To see more rates from Bankrate, click here.
* The above mortgage loan information is provided to, or obtained by, Bankrate. The rate is based on 30 year fixed rate mortgage and a loan of $300,000. Rates change often and your personal rate may differ from the above number based on your qualifications. To see more rates from Bankrate, click here.
* The above mortgage loan information is provided to, or obtained by, Bankrate. The rate is based on 30 year fixed rate mortgage and a loan of $300,000. Rates change often an your personal rate may differ from the above number based on your qualifications. To see more rates from Bankrate, click here.
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