Mortgage Rates Modestly Higher Ahead of Trump Speech

Posted To: Mortgage Rate Watch

Mortgage rates moved higher today in most cases, but not by much. More interesting is the fact that rates held their ground as well as they did considering several strong economic reports this morning. Strong economic data typically leads investors to sell bonds, which in turn results in lower bond prices and higher rates. This morning’s dynamic was quite different . While the stronger economic data was briefly acknowledged with some temporary weakness in bonds, the broader trend remained favorable. Bonds actually improved a bit heading into the afternoon. If today’s rate sheets were based solely on this morning’s market movement, rates would be slightly lower compared to yesterday. But lenders still had to account for some of yesterday’s late day bond market weakness. Today’s modestly higher…(read more)

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Source: Mortgage News Daily

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