While there was certainly plenty of volatility elsewhere in the financial market this week, there was almost none to be found in mortgage rates. Wed, Thu, and Fri all recorded the exact same level in MND's 30yr fixed rate index--something that only happens a few times every year. Rates are based on bonds and bonds are waiting for more serious inspiration after undergoing a bit of elevated volatility at the beginning of last week. The present week has been all about consolidating and settling into a narrower range as we wait for the more important economic data on deck next week.
Some Volatility Surrounding Headlines, But Not Much Change
Some Volatility Surrounding Headlines, But Not Much Change
Bonds began the day roughly flat before losing ground modestly into the 9am hour as markets mis-read headlines regarding new peace proposals submi…