Mortgage Rates Barely Budge Despite Market Gains

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Posted To: Mortgage Rate Watch

Mortgage rates didn’t move much today, despite a somewhat decent improvement in bond markets. Overnight, trade war brinksmanship between the US and China had investors seeking the safe haven of bond markets. Excess demand for bonds pushes rates lower, all other things being equal. As is often the case with safe haven trades, US Treasuries saw more of the benefit than the bonds that underlie mortgage rates. The net effect is a move back in line with last Friday’s levels for the average mortgage lender. Loan Originator Perspective Bonds coasted through a flat session Monday as rates hovered near unchanged. There’s scant meaningful data this week to inform markets, I’ll be surprised to see much movement. Since we’re near the recent range’s low, I’ll keep locking early while watching for further…(read more)

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