Mortgage Rates Higher Despite Market Improvement

Mortgage rates were higher for a 4th straight day today. That is a bit of a puzzler at first glance because bond markets are showing improvements from yesterday. 10yr yields are 0.02% lower and even the mortgage-backed-securities (MBS) that dictate mortgage rates are in better territory. So why no love for mortgage rates themselves? Most of this has to do with the timing and intensity of yesterday’s market movement. MBS weakened at a gentle pace throughout the day. The losses were sufficient for several lenders to adjust rates higher, but most lenders kept rates unchanged from the morning. Therein lies the problem. While it’s true that bond markets are in stronger territory versus yesterday’…
Mortgage Rates Newsletter – Market Analysis

Leave a Reply