Gwinnett County Real Estate Blog
Mortgage Rates Steady at 2 Week Lows
The bond market and mortgage rates have been on the move lower recently after hitting longer term highs at the end of July. Today offered a break from the recent movement with bonds and rates holding perfectly flat day-over-day. The upside is that this means it's yet another day spent at the lowest levels in more than 2 weeks. The average top-tier 30yr fixed rate remained at 6.75%. Flat oil prices helped facilitate the flat bond market performance. Risks and opportunities remain in the coming days. If a Hormuz transit agreement is confirmed, rates could certainly fall. If fighting breaks out again, rates could move higher. Friday's jobs report represents similar "either/or" risks depending on the outcome of the data.
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