Flat Mortgage Rates Meet Big Potential Volatility

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Posted To: Mortgage Rate Watch

Mortgage Rates were unchanged , yet again, keeping alive an uncanny streak of lifelessness. That COULD change tomorrow after Fed Chair Yellen’s speech at the Jackson Hole symposium, but please note the emphasized word. This is always the case when it comes to big potential market movers. They can be thought of as “reserving the right” to push rates quickly higher or lower, but they don’t always exercise that right. At the moment, markets– especially those for interest rates–have been so devoid of movement that investors are increasingly anxious about the eventual return of volatility. Yellen’s speech tomorrow is simply the most obvious source of inspiration on the near-term calendar. If it doesn’t do the trick, investors will move on to next week’s busy slate of economic data. Either way…(read more)

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