Saturday , 16 January 2021

Mortgage Rates Finally Feeling the Love

By Matthew Graham

Posted To: Mortgage Rate Watch

Mortgage rates had a bad Valentines Day. It’s not that anything happened on that Saturday. Indeed, lenders weren’t even open. It’s just that things changed significantly by the time US markets reopened on Tuesday, with rates moving higher at the fastest pace in over a year. After a purely corrective bounce the following day, rates spent the next three days in limbo. That brought us to yesterday’s big move lower following Yellen’s testimony and an anticlimactic Eurozone response to the Greek bailout (initial approval), but it was an outlier against an otherwise crummy trend toward higher rates in February. Until today… Today brought only modest improvement , but taken together with yesterday, it was the strongest 2-day stretch of the month. More importantly, holding ground today helps to solidify…(read more)

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