After getting pushed higher in low volume trading late last week, Mortgage Rates are roughly unchanged today, although market volume remains exceedingly light.  This leaves Best-Execution 30yr Fixed rates at the prevailing 3.875%, although some lenders are closer to 4.0% after last week's weakness. 

Recently, we've been fairly vocal about the holiday-inspired lack of trading volume.  Whereas the theme from last week was one of low volume distorting market movements, so far this week the low volume is taking on a slightly different shape in that there's not enough conviction to move very far in any direction.  Treasuries and Mortgage Backed Securities (MBS) traded in extremely narrow ranges today, moving very little from the levels at which they began the day.  

Please make sure to read the "important rate disclaimer" at the bottom of the page in considering what "all-time lows" means.  The issue of "buckets" as described in the lock/float considerations below, remains a factor that may prevent rates and/or fees from moving significantly lower in the short term.

Today's BEST-EXECUTION Rates

• 30YR FIXED -  3.875%
  
• FHA/VA -3.75%
  
• 15 YEAR FIXED -  3.375%
  
• 5 YEAR ARMS -  2.625-3.25% depending on the lender
  

Lock/Float Considerations

The ongoing low volume environment through the new year still constitutes more of a risk than a benefit as far as Mortgage Rates are concerned.  To be clear, we're not saying any fundamental negativity is sweeping over the interest rate landscape, simply situational risk.  Keep in mind that rates are about as low as they've ever been and moving more than .125% lower from here will not be easy or fast.