Mortgage rates¬†fell today,¬†undoing enough of this week's damage to return precisely to levels seen last Friday. ¬†In simpler terms, rates ended the week 'unchanged.' ¬†That's not for lack of volatility during the week! ¬†4 out of the 5 days saw bigger-than-average moves. ¬†Tuesday and Wednesday alone pushed rates more than an eighth of a point higher. ¬†But Friday and Monday's improvements were enough to offset the weakness.
Rates benefited from this morning's economic data. ¬†Specifically, the first reading on Q4¬†GDP was weaker than expected. ¬†Weaker economic data tends to push rates and stock prices lower.¬†...(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=701087