Posted To: Mortgage Rate Watch
Mortgage rates moved lower today, despite an exceptionally strong jobs report--something that typically sends rates screaming higher. Recently, however, we've seen a disconnection between rates and economic data, and today's jobs report was the ultimate test in that regard. Bottom line, the data was so strong that it would unequivocally have pushed rates higher UNLESS rates had something else very big on their mind. Indeed, multiple financial markets have something very big on their minds--namely, the significant losses in global stock prices, the ongoing slide in oil prices, and the possibility that the Fed's recent rate hike merely served as the catalyst for the start of a longer term move away from "risk." When investors move away from risk, they do things like sell stocks and buy bonds...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
from Mortgage News Daily http://ift.tt/1POqVbp
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