Posted To: MBS Commentary
The past two weeks have been the best and worst of times when it comes to bond markets and mortgage rates. While it is always nice to go on a run to periodic lows, it will probably always be frustrating to see them evaporate so quickly. On a daily basis during the latter half of the month, I was keen to point out that Thanksgiving weeks often prove to be the most volatile of the month but that the following week tends to push back in the opposite direction. So if volatility had taken rates higher, we could have held out hope that the first week of December would take them back lower, and vice versa. As it happened, the volatility clearly took rates lower during Thanksgiving week, and although it was a gradual process beginning yesterday, the first week of December has clearly taken rates higher…(read more)
Via:: MBS Day Ahead: Bond Markets Getting Back to Business, Just in Time for Bigger Data
