Mortgage Rates Recover After Flynn Headlines

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Posted To: Mortgage Rate Watch

Mortgage rates were at their highest levels in roughly 1 month as of yesterday afternoon. That ran counter to many of the mortgage rate news stories that came out throughout the day due to said stories using Freddie Mac’s Primary Mortgage Market Survey as source material (a longstanding survey that accurately tracks rates over time, but often fails to account for near-term volatility). Accounting for near-term volatility is tricky business for mortgage lenders this week–especially over the past 3 days. Wednesday and Thursday saw rates spike quickly higher as the Senate’s version of the tax bill looked increasingly likely to pass. In general, the tax bill is good for stocks and bad for bonds. By far and away, the week’s biggest market mover landed today in the form of headlines regarding former…(read more)

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