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Mortgage rates moved modestly higher yesterday morning. There was no direct cause for the rise in rates. The previous day stocks systematically rallied following an eight day losing streak. The bond market and consequently mortgage rates opened the day higher yesterday morning. Lenders left rate sheets...
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Much like Monday, yesterday was a data-less day in the marketplace, leaving me at a loss for words and new guidance. Mortgage-backed securities prices did managed to move higher following a very strong 3 year Treasury debt auction, unfortunately MBS price appreciations were not strong enough to warrant...