Mortgage rates hit the lowest levels in more than a month yesterday and came very close to the lowest levels in more than a year. Things changed today, but only slightly. Without a fresh supply of drama or weaker economic data, the bond market deteriorated. Bonds typically benefit when investors are seeking safe havens in response to economic risks. This pushes bond prices higher and yields (aka “rates”) lower.
Whereas there were concerns about Italian budget news and a weaker reading on Retail Sales yesterday, today brought stronger economic data across the board. Bonds reacted by weakening (i.e. moving higher in yield/rate) and that was basically that….(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
Source: mortgagenewsdaily.comNew feed
Mortgage Rates Ebb Higher, But Only Slightly
Published in bond markets, interest rates and mortgage rates
More from bond marketsMore posts in bond markets »
More from interest ratesMore posts in interest rates »
Be First to Comment