Mortgage rates for 30-year and 15-year fixed loans tilted slightly lower, while 5/1 ARM rates were unchanged, according to a NerdWallet survey of daily mortgage rates published by national lenders Tuesday morning.
After spiking just before Independence Day and holding those highs through mid-July, 30-year fixed mortgage rates slipped and have settled into a very narrow range just over 4% for nearly three weeks now, according to the NerdWallet Mortgage Rate Index.
The stock market has been in the spotlight recently, reaching fresh daily highs. Meanwhile, bond trading volume is light, and there is little on the economic report agenda until Friday. Motivated by the now docile bond market, home loan rates should be content to coast, barring unexpected news.
The fractional wavering we’ve seen in daily mortgage rates lately won’t be enough to significantly impact loan pricing for home buyers. Still, originator rates can vary widely, so it always pays to shop more than one lender.
MORTGAGE RATES TODAY, TUESDAY, AUG. 8:
NerdWallet daily mortgage rates are an average of the published annual percentage rate with the lowest points for each loan term offered by a sampling of major national lenders. APR quotes reflect an interest rate plus points, fees and other expenses, providing the most accurate view of the costs a borrower might pay.