It may not be as glamorous as being able to say mortgage rates are "in the 5s," but at 6.00%, today's MND rate index is a mere 0.01% higher than yesterday's multi-year low. For all practical purposes, this means the average borrower will see almost exactly the same rates as yesterday. In many cases, the quotes will be exactly the same. There were no big ticket market movers on the econ calendar and no major headlines that caused any appreciable volatility in the bond market (bonds dictate mortgage rates). In general, the entire week is very quiet in terms of those potential market movers. Rates would need to see a shift in important economic reports before committing to their next major move.
Bonds Finally Trade Something Other Than The War
Similar Volatility But in a Friendlier Direction
The bond market saw a roughly identical amount of volatility on each of the last 2 days of the week, but Friday’s version played out in a friendlier direction. H…