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Mortgage Rates Near Recent Lows Despite Moving Up Today

Mortgage rates dropped sharply yesterday after having risen to the highest levels in 2 weeks the day before.  Yesterday’s culprit was trade war related, but today had a more robust calendar of potentially market moving data.
So did the data end up moving the market?  If the title didn’t give it away, let’s make it clear: no!  This market is at the whim of trade-related headlines first and foremost.  In today’s example a news story simply pushed back on the conclusions implied by yesterday’s trade-related headlines.  Specifically, yesterday’s news left markets with the impression that a US/China trade deal could be delayed for more than a year while today’s headlines said ‘nah, it’s not that bad, and in fact, it’s actually pretty good.’

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Source: mortgagenewsdaily.comNew feed

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