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Top-tier 30-year fixed mortgage rates edge down as bonds improve

Average top-tier 30-year fixed rates fell 0.01% from Friday, with bond strength tied to lower oil prices.

Reported · Written up by our desk · Mortgages

Mortgage rates were little changed to start the new week, as the underlying bond market showed slight strength that typically points to slightly lower mortgage rates, according to Mortgage News Daily.

Mortgage News Daily reported that average lenders reduced top-tier 30-year fixed rates by 0.01% versus Friday, keeping the average offer aligned with the rates available before last week's Fed rate hike.

The outlet said the bond market's move was largely motivated by lower oil prices, which it noted have driven intraday bond trading in recent sessions, for better or worse.

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