Mortgage Rates Sideways to Slightly Higher

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Posted To: Mortgage Rate Watch

Mortgage rates began the day in decent shape after more trade war drama courtesy of a Reuters story overnight. In general, trade war drama pushes stock prices and bond yields (aka “rates”) lower. But as we discussed yesterday, mortgage rates hadn’t been able to benefit from that drama nearly as much as US Treasuries (the benchmark/yard-stick against which all other US interest rates are compared). In fact, they were very close to unchanged even though Treasuries were making a case for a nice move lower. It looked like that might change this morning as Treasury yields continued lower and the bonds underlying mortgages managed to improve modestly. Indeed, a few lenders did offer rates that were just slightly better than yesterday, but they were counterbalanced by just as many lenders on the other…(read more)

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