Mortgage rates stabilized today, after moving higher somewhat quickly following several strong economic reports on Friday. If you’d like to revisit the relationship between economic data and rates, we discussed it in greater detail in yesterday’s coverage.
Interestingly enough, today brought the week’s most important economic report–ISM Non-Manufacturing. This is the counterpart to the ISM Manufacturing report that caused problems for rates on Friday. Today’s non-manufacturing version came in weaker than expected, so from an economic data standpoint, it’s no surprise to see rates improving. …(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 Making a Case For Remaining in Recent Range
Published in bond markets, interest rates and mortgage rates
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