Posted To: Mortgage Rate Watch
Mortgage rates had a far more tumultuous day despite ultimately hanging on to the lowest levels in more than 8 months. Whether you wanted to be happy, sad, excited, or scared, there was something for everyone today. The bond markets that underlie mortgage rate movement began the day in weaker shape (implying higher rates). We'll never know if they would have been content to stay there because an important economic report sent bond yields and stock prices screaming lower at 10am. Lenders who hadn't yet put out their first rate sheets of the day were able to open up at new 8-month lows. Of the lenders who already had rate sheets out, most ended up publishing mid-day improvements within an hour or two. Despite a gentle drift back in the wrong direction, it looked like rates were set to hold their...(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/1QGLpmN
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