Mortgage Rates Lower on Combination of Europe and Treasury Auction

Mortgage rates continued lower at a steady pace for most lenders today. The week continues to be slow in terms of domestic events and data, but it has been active in terms of Europe’s reaction to the start of European quantitative easing. Most notably, European bond yields and the Euro itself have taken a sharp turn lower. Both of those markets tend to correlate with US interest rates, which have benefited only modestly from this week’s movement in Europe. That said, there’s no way to know where rates would be going this week if nothing was happening in Europe. Perhaps they’d be pushing higher (indeed that seemed like a real risk last Friday afternoon). In that sense, the moderate improvemen…
Mortgage Rates Newsletter – Market Analysis

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