Nice Bounce Back For Mortgage Rates After Rocky Start This Week

Earlier in the month, mortgage rates rose somewhat abruptly as lenders got in a defensive position ahead of the election.  They’d learned in 2016 just how volatile the bond market (the key ingredient in the rate movement equation) could be after an election and it made sense to minimize exposure to risk.  Following the election, rates improved just as quickly, with the average lender at the best levels in weeks last Thursday.  But at the beginning of the current week, Pfizer’s vaccine news caused bonds to jump again.  In the blink of an eye, rates were back up to the levels seen just before the election.
Today always stood a chance to offer some clarity for rate trends.  …(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