Saturday , 19 August 2017

Mortgage Rates Fairly Steady to Begin Week

By Matthew Graham

Posted To: Mortgage Rate Watch

Mortgage rates were mostly flat again today, despite bond market weakness (lower bond prices generally mean higher rates). Between MBS (the mortgage-backed-securities that underlie mortgage rate movement) and US Treasuries (the risk-free benchmark for all US debt/bonds), the latter fared worse. In other words, mortgage bonds outperformed Treasuries. That’s one of the reasons we didn’t see much movement in mortgage rates today. The other reason was as simple as the shape of market movement on Friday. Bonds improved throughout the course of the day but most lenders didn’t adjust rate sheets to reflect that improvement. As such, today’s weaker bond market levels ended up being fairly close to those that were in effect when lenders last set rates on Friday morning. The absence of change continues…(read more)

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Mortgage Rates Fairly Steady to Begin Week

By Matthew Graham Posted To: MBS Commentary In the Day Ahead, we discussed bond traders’ …