Posted To: Mortgage Rate Watch
Mortgage rates continued lower today, reaching levels not seen since February 9th. This further solidifies the positive move that followed last week’s FOMC Announcement and Press Conference and offers ongoing confirmation that the disconcerting trend toward higher rates that began in February is defeated. While that doesn’t necessarily have any implications as to the direction of the next trend, it does mean that we’re no longer following the same steep and steady path toward higher rates. The bond markets that underlie mortgage rates were relatively quiet today despite some volatility in other markets. Typically, the moves in those other markets would result in more weakness for bonds, and thus imply higher rates. But instead, bonds marched to their own beat. The most optimistic way to look…(read more)
Via:: Mortgage Rates Lowest in 6 Weeks
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