Posted To: Mortgage Rate Watch
Mortgages Rates improved again today as domestic economic data failed to inspire markets to move in either direction and optimism over today’s conference call between Greece and its creditors deteriorated. In general, economic optimism tends to coincide with interest rates moving higher. Mortgage rates began the week fighting back against this generality as anticipation for today’s conference call weighed on bond markets and MBS (the “mortgage-backed-securities” that most directly influence mortgage rates). It became clear earlier today that the conference call would not offer any sort of sweeping solution to ongoing Greek bailout negotiations. Uninspired by today’s manufacturing data at home, bond markets traded higher in price for a fourth straight day. As price goes up, yields (or “interest…(read more)
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