The past 2 weeks have seen very little volatility for mortgage rates. After being near 6% for a week in early January, rates rose abruptly to 6.21% (avg top tier 30yr fixed) on January 20th in response to geopolitical drama. They've generally descended since then, but in slow, measured steps. Today's result was actually a 0.01% increase in the MND rate index, but that's not terrible news considering last week ended at 2 week lows. In the bigger picture, apart from the super low week in early January, recent rates have been in line with the lowest levels in years. Last week's most noticeable move came in response to a trio of employment-related reports on Thursday. That suggests the market will be more than willing to react to any interesting developments in this Wednesday's big jobs report (a single report that is orders of magnitude more important than last Thursday's reports combined).
Solid Showing For Logical Reasons
Solid Showing For Logical Reasons
Money flooded back into both sides of the market in a major way (albeit more “major” for the stock market) after Bessent said we could be days away from a new deal on Hormuz tr…