Posted To: MBS Commentary
2.90% or something close to it continues to look like the center of a range of yields that might like to... think about... maybe... potentially... trying... to act as a ceiling for rates. After bouncing at 2.92% yesterday, yields continued lower today. That made today the 12th day since rates first hit 2.90% without moving too much higher. If you're into hope and optimism, this looks like the beginning of a potential bounce. If you're playing it safe or simply not too hopeful, it's just a more convincing consolidation before rates continue a longer-term move higher. Today's economic data was a non-event . Granted, two of the reports were in line with the bond market improvements, but notably, bonds actually weakened somewhat after each of those reports (Chicago PMI and Pending...(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/2GSBDhD
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