Thursday , 24 October 2019

Rates Are Still Falling, Mortgage Apps Bounce Back Amid Refi Rush

Mortgage rates are historically quite low and they managed to continue lower today . This is in addition to a steady string of improvements that began more than 2 weeks ago. But whereas other parts of the financial market are making some of the biggest moves in months right now, the mortgage market is barely moving by comparison. The reason for this is the same as it has been every time we’ve discussed it in the past few months. The bonds that underlie mortgage rates are not able to keep pace with the broader bond market when things get volatile. The bigger the move and the more rates vacillate between strength and weakness, the worse it is for the mortgage market. Volatility doesn’t show signs of stopping , but as always, it will depend on the news and data in the coming days. Both tomorrow


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