Mortgage rates improved modestly today, adding to yesterday’s slightly less compelling improvement. Taken together, they keep an air of calm and steady progress intact during a week that ran the risk of stumbling across volatility.
One of the key sources of potential volatility was today’s signing of the US/China “phase 1” trade deal. Granted, it was only much of a risk in the event that something unexpected happened. Needless to say, nothing unexpected happened! Mortgage rates and the underlying bond market reacted accordingly as they merely went about their business for reasons known only to the traders pushing the buttons behind the scenes (i.e. market movement was so well contained today that we’re not able to connect any underlying events with the movement).
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Source: mortgagenewsdaily.comNew feed