October 13th, 2010 12:47 PM by BILL WILBANKS
Did you get a complete application submitted so you could lock a rate last week? Being prepared to apply makes a difference. The rate has moved a little higher off the bottom in the last two days. This morning the equity markets increasing by 100+ points brought those lenders that didn't bump pricing late yesterday into the mix this morning. Yesterday's mediocre 3 year bond auction is followed by today's 10 year sale with the results to be posted after 1 PM eastern. Refinance numbers are definitely up and sales numbers down, but where's the news there? Want to see some charted data on it? Click here.
Recovered 0.25% point late day on price. Not quite back to a 4% 30 year purchase rate but...close.