Mortgage Rates Index - JUN 16
It is quiet ... almost too quiet
Despite tensions in the Middle East, which was discussed in greater detail in the most recent Weekly Kut, the bond market was relatively flat today.
The LendZen Index tracks the change in mortgage rate prices across a spectrum of mortgage bonds.
It gives borrowers a clearer picture of how the cost to obtain a mortgage has changed, regardless which rate they are considering.
The index also helps put into context how quickly previous rate quotes can become obsolete, and by how much.
In the last 10 days, the cost of mortgage rates has declined by 29 basis points (0.0029).
That equates to $290 per every $100k of loan amount.
Read more about the upcoming Fed policy decision, and what this means for mortgage rates, in this special midweek post of the Weekly Kut.
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