The theme in the secondary mortgage market this week has been volatility. Prices of mortgage backed securities have moved around a wide range as traders attempt to balance their uncertain long term economic outlooks with optimistic short term sentiment in stocks. This ongoing struggle has mostly insulated...
The bond market is closed in observance of Columbus Day. While mortgage-backed securities are not being traded today, several lenders have published rate sheets and many originators are still working...so dont be afraid to contact your loan officer! Last week ended on a sour note as prices of mortgage...
Mortgage rates continue to hold below 5% despite some better than expected economic data last week. As a general rule, better than expected economic data usually leads to higher mortgage rates while worse than expected data improves rates (that has not been the case recently though). At the close on...