The bond market and mortgage rates have been on the move lower recently after hitting longer term highs at the end of July. Today offered a break from the recent movement with bonds and rates holding perfectly flat day-over-day. The upside is that this means it's yet another day spent at the lowest levels in more than 2 weeks. The average top-tier 30yr fixed rate remained at 6.75%. Flat oil prices helped facilitate the flat bond market performance. Risks and opportunities remain in the coming days. If a Hormuz transit agreement is confirmed, rates could certainly fall. If fighting breaks out again, rates could move higher. Friday's jobs report represents similar "either/or" risks depending on the outcome of the data.
Bonds Shake Off Mid-Day Weakness to Hold Mostly Steady
Bonds Shake Off Mid-Day Weakness to Hold Mostly Steady
Bonds took a break from their recent trend of moderate day over day movement to hold relatively steady on Wednesday. Econ data didn’t get in the way in any…