Mortgage Rates Jump Higher From Long-Term Lows

Mortgage rates rose rapidly today, relative to their average intraday movement potential. Things have been far from average, of course, and so it is that today’s intraday losses can be among the worst of the year while the outright levels are the 4th lowest in more than a year. In other words, we only lost as much ground as we did because of how much ground we’ve been gaining recently. Recent action foreshadowed today’s weakness to some extent, and my conclusion yesterday about the ephemeral nature of long term lows is quite applicable today: “markets run hard. Sometimes they can surprise you as to how hard and how fast they’re willing to run. But then at some point, the running is over, or …
Mortgage Rates Newsletter – Market Analysis

Leave a Reply