Volatility is always a risk surrounding 3 day holiday weekends when it comes to markets and mortgage rates, but this time around, things have been very calm. The average top-tier 30yr fixed rate remained almost perfectly flat versus last Thursday with the MND index technically falling by 0.01%. This week's calendar of scheduled events is less consequential than last week's. After today, there is essentially no big-ticket economic data. In the bigger picture, 30yr fixed rates are near the center of their range over the past 6-7 weeks. Collectively, that range represents the highest levels in roughly 10 months with 30yr fixed rates averaging just over 6.6%. [thirtyyearmortgagerates]
Uneventful Summertime Monday
Uneventful Summertime Monday
Volume and–sometimes–volatility can be generally lower in the middle of the summertime months as fewer traders are consistently at bond desks–especially on days adjacent to 3-day…