On average, today's top-tier 30 year fixed mortgage rates are exactly the same as yesterday's. Rates are driven by the bond market and bonds continue waiting for bigger developments in the Iran war. At the moment, the market is in a sort of limbo as time remains on the 2-week ceasefire. In the meantime, there's a multitude of lower consequence war-related headlines on any given day. These have caused a bit of back and forth volatility in bonds, but not enough directional movement to nudge rates very far in either direction since Tuesday.
Ceasefire Uncertainty Adds to Losses
Ceasefire Uncertainty Adds to Losses
Bonds were just a bit weaker this morning after the weekly ADP data. Just before 11am ET, several newswires called ceasefire negotiations into question. Chief among the…