The Veridian Blog

Trading ends early today ahead of the long Memorial Day weekend and mortgage rates continue to turn for the worse as the equity markets strengthen.  The Fed also announced yesterday another $100 billion in Treasury sales, which makes Treasury securities less appealing to investors.  It caused a slight uptick in rates and the bias has now shifted upward.

We are still confident rates on qualified standard and high-balance conforming loans will remain under 5% in the near future.  All wholesale lenders have smoothed out turn times and are better able to deal with large volume than at any other time this year.

We wish you all a safe and happy Memorial day weekend!