--- title: Mortgage Rates Trend Downward to Kick Off the Week description: Good news for homebuyers in Texas as mortgage rates take a surprising dip, defying expectations. Lower rates offer an opportunity to purchase a home. image: https://www.texasunitedmortgage.com/hubfs/Rates%20down.jpg --- # Mortgage Rates Trend Downward to Kick Off the Week [![](https://www.texasunitedmortgage.com/hubfs/Rates%20down.jpg) ](https://www.texasunitedmortgage.com/resources/mortgage-rates-trend-downward-to-kick-off-the-week)[News](https://www.texasunitedmortgage.com/resources/tag/news) June 27, 2023 | By Mendy Rimler Share - [**  ](http://www.facebook.com/sharer.php?u=https://www.texasunitedmortgage.com/resources/mortgage-rates-trend-downward-to-kick-off-the-week) - [**  ](https://twitter.com/share?url=https://www.texasunitedmortgage.com/resources/mortgage-rates-trend-downward-to-kick-off-the-week&text=Mortgage%20Rates%20Trend%20Downward%20to%20Kick%20Off%20the%20Week&hashtags=) - [**  ](http://www.linkedin.com/shareArticle?mini=true&url=https://www.texasunitedmortgage.com/resources/mortgage-rates-trend-downward-to-kick-off-the-week) ## Table Of Contents Great news for anyone interested in getting a mortgage! It seems like mortgage rates have taken a step back this week, which is definitely a positive development. Let's break it down in simple terms. Mortgage rates are influenced by certain bonds that are traded in the market, particularly mortgage-backed securities (MBS) that move in sync with longer-term US Treasuries. This week, there was an interesting twist. The MBS suggested that rates would remain flat or close to it. However, the reality turned out to be a bit different. Compared to last Friday, the average lender has actually lowered their rates noticeably. In fact, we haven't seen rates this low in at least three weeks. It's a pleasant surprise! Now, here's the secret ingredient that affects mortgage rates: lender strategy. Think of it as adding a pinch of flavor to the mix. Sometimes, lenders play it safe during times of market volatility or when there are significant events on the horizon that could shake things up. In our current situation, these lower rates make sense after a nice long weekend. You see, lenders tend to keep rates slightly higher before extended breaks. But when the next week rolls around and the MBS remain steady or even show a slight improvement, lenders relax a bit and pass on some of those savings. The result? Rates take a dip, defying the expectations set by the MBS. So if you're looking to buy a home in Texas, these lower rates are a welcome sight! With lower rates for Texas mortgage loans, you have a great opportunity to secure a loan and purchase a wonderful home in this hot market. ## Rated 5/5 stars in over 1,000 reviews Read why thousands of new homebuyers, refinance customers and investors love Texas United Mortgage. 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