Mortgage rates¬†were slightly higher¬†today, but remain in much better shape overall when compared to the last month of 2016. ¬†In many ways, the new year marked a shifting of gears for rates, or rather, the bond traders whose actions dictate the day-to-day movement.
After the election, with its explosive consequences for financial markets, bond traders were only thinking one thing: duck and cover! ¬†In practice, this simply means that it was easy to convince bond traders to sell ¬†(which pushes rates higher) and nearly impossible to convince them to buy (which would help rates recover). ¬†...(read more)Forward this article via email:¬†¬†Send a copy of this story to someone you know that may want to read it.[img]http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=696793