Mortgage ratesremained relatively unchanged again today. This continues the sideways trend leading into Memorial Day weekend. As the current week progresses, we can expect to see volatility increase thanks to the presence of more significant economic data.
In general, bond markets (which underlie mortgage and other rates) react to strength or weakness in economic data. The more important the report and the bigger the margin by which it misses or exceeds expectations, the more movement is implied in bond markets (and thus "rates"). ...(read more)Forward this article via email:Send a copy of this story to someone you know that may want to read it.