Mortgage borrowing costs moved higher yesterday morning as stocks rallied and investors sold their flight to safety positions in Treasuries. Rising benchmark yields pushed mortgage-backed securities prices lower and forced lenders to increase consumer borrowing costs by a few basis points. However things...
After two dataless days and no movement in mortgage rates, action picked up yesterday. Mortgage rates opened the day lower, however, thanks to big turnout at the 10 year Treasury note auction, enchmark yields rallied and mortgage-backed security prices moved higher into the close. We sat and waited for...