Mortgage loan rates defaults are adjusted only once a day. From there, the underlying bond market will need to improve or deteriorate by a certain amount for the average lender to face the challenge of a mid-day price revision. A small handful of lenders did so last Friday (bonds were getting worse), but the losses were small enough to avoid coercion into the hands of most creditors.
TO abstinence on Friday, the average lender was forced to slightly adjust today’s rates above to account for the weakness of the bond market. In other words, the rates were higher this morning than Friday morning.
Over time, mortgage bonds have improved enough to friendly Middle of a day. Most lenders have pulled the trigger, thereby helping interest rates close the gap with Friday’s rates. Simply put, rates at the start of the day were moderately higher than on Friday morning, but they are now only marginally higher (assuming the lender in question suggested a mid-day price increase).
Lenders who abstained today will likely be able to offer higher rates tomorrow morning, provided the bond market does not lose too many positions overnight.