Mortgage Rates today, May 5, 2015.
The Mortgage Rate Drift. Unfortunately I’m not talking race cars; Mortgage Backed Securities continue their move lower this week. As I have been saying for a while: lock, lock, lock. Now that I’ve said that, rates will probably start to get better. The technical just don’t look good, we have broken through several support levels. The good news is though that rates are still great and although they are moving higher they are still close to historic lows! We have some more big data with ADP, initial claims and nonfarm payrolls which could all cause big swings the remainder of the week.