Mortgage rates improved modestly today, depending on the lender. Some lenders moved rates higher yesterday due to deterioration in the bond market. Others simply planned to adjust for market conditions this morning. If we look at the last 3 days altogether, however, it’s easier to characterize rates as being right in line with the highest levels in nearly a month.
Volatility remains a risk in the near-term future, but not for conventional reasons. Normally, economic data and Fed policy would be responsible for the biggest moves in the bond market that underlies mortgage rates. At the moment, however, geopolitical risks and US/China trade policy updates can have an impact that’s just as big. There was fresh evidence of this today when Brexit-related updates offset the influence of a key piece of economic data (Retail Sales).
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Source: mortgagenewsdaily.comNew feed