Rates Begin Week Unchanged at July’s Lows

Mortgage rates held steady today, which leaves them in line with the lowest levels in July. In underlying bond markets (bond movement directly impacts lenders’ rate offerings), it was an exceptionally quiet day–especially for mortgage-related bonds. Activity should increase somewhat as the week progresses. That’s a typical pattern for most weeks–all other things being equal (Mondays and Fridays tend to be slower)–but we’ll also get events that tend to draw out more participation among traders. The most obvious calendar item is the Fed Announcement on Wednesday. Keep in mind, there are two different varieties of Fed Announcements. Of the 8 announcements each year, 4 of them are accompanied…
Mortgage Rates Newsletter – Market Analysis

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