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Mortgage Rates Well-Protected From Jobs Report Volatility

Tomorrow brings the month’s most important economic report: the Employment Situation, often referred to simply as “the jobs report.”  No other piece of economic data has remotely the same track record of inspiring movement in the bond market (which, in turn, inspires movement in interest rates).
But not all interest rates are equal–especially not these days.  Mortgage rates are in an advantageous position relative to benchmarks like the 10yr Treasury yield (which is typically an excellent barometer for mortgage rate momentum).  Exceedingly strong demand for mortgage-backed bonds is part of the reason.  That demand has been created both by the Fed’s bond buying programs and the fact that investors are hungry for bond market assets that have slightly higher yields than the vanilla options such as Treasuries….(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

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