Wednesday , 13 January 2021

Mortgage Rates Make Good on Hints of Resilience

By Matthew Graham

Posted To: Mortgage Rate Watch

Mortgage rates improved to begin the new week–a welcome development considering last week ended with a strong jobs report and a moderate move higher for rates. Despite that move, we discussed the fact that there was an inordinate amount of resilience in rates given compared to the weakness such an impressive jobs report would normally suggest, and that resilience suggested some latent positivity. The takeaway, as stated, was that “rates aren’t feeling predisposed to run higher into the end of 2014 without more motivation.” That was made apparent today as bond markets quickly recouped ALL of their losses from Friday, resulting in the best mortgage rates since the beginning of last week. The most prevalently-quoted conforming 30yr fixed rate for top tier borrowers had edged up to 4.0% last week…(read more)

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