Mortgage Rates Sideways Near Long-Term Lows


Posted To: Mortgage Rate Watch

Mortgage rates remained relatively unchanged again today. This continues the sideways trend leading into Memorial Day weekend. As the current week progresses, we can expect to see volatility increase thanks to the presence of more significant economic data. In general, bond markets (which underlie mortgage and other rates) react to strength or weakness in economic data. The more important the report and the bigger the margin by which it misses or exceeds expectations, the more movement is implied in bond markets (and thus “rates”). Friday brings the most important economic report of the month: the Employment Situation. This is the big “jobs report” that includes nonfarm payrolls (a measurement of how many jobs the economy is adding or losing) as well as the unemployment rate. In modern economic…(read more)

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