Posted To: Mortgage Rate Watch
Mortgage rates may have been feeling the love yesterday, but that now seems to have been a coincidental blip in the longer-term trend. Rates actually started the day in OK shape. Most lenders were the same or slightly better than yesterday, but the bond markets that underlie rate movements weakened steadily throughout the day. Markets are anxious about next week’s potential agreement between Greece and the EU. Such an agreement would allay some of the concerns about growth and stability in the Eurozone. That’s a good thing in and of itself, but those concerns have also fueled demand for safe-haven debt, which includes US Treasuries and Mortgage-Backed-Securities (MBS). Ebbing demand for MBS translates directly to higher rates. While we can hope that next weeks meetings in Europe produce news…(read more)
Via:: Mortgage Rates Struggling Ahead of 3-Day Weekend
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