Mortgage Rates Finally Pull Back. Should You Worry?

Mortgage rates finally ended an impressive winning streak today, rising for the first time in 9 days. Rates began that streak with a massive move lower following the UK’s vote to exit the European Union and maintained momentum until they were right in line with all-time lows yesterday. Any time a winning streak extends past the 5 day mark (that’s 5 business days, by the way), we begin to look for the inevitable correction that almost never takes more than 3 more days to show up. In that sense, today’s moderate move higher in rates isn’t much of a surprise. In fact, the resolute strength was arguably more surprising, and it raises questions as to how serious this single day of weakness may be…
Mortgage Rates Newsletter – Market Analysis

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