Mortgage Rates Sidestep Near Recent Highs

Mortgage Rates were unchanged in most cases today, keeping them near their highest levels in more than 2 months. Rates are driven primarily by movements in bond markets, and bonds had an opportunity to react to multiple economic reports that came out this morning. The headliner–Retail Sales–missed estimates calling for a 0.1 percent decline, instead sliding by 0.3 percent. This would generally be good for rates, but several other reports were stronger than expected, leaving bonds to trade in the same range as yesterday after brief volatility in the morning. The most prevalent conventional 30yr fixed rate quotes are still an eighth of a point higher than they were last week, with top tier s…
Mortgage Rates Newsletter – Market Analysis

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