Mortgage rateswere steady to slightly lowertoday, with underlying bond markets essentially erasing the damage seen yesterday. This was neither here nor there for the mortgage world as most lenders didn't adjust rates much higher yesterday (despite bond weakness). Thus, they didn't have much to do today when bonds strengthened. In general "bond market strength" = lower rates and vice versa.
There were no significant economic reports or major market-moving headlines today--at least not for rates. Oil prices and political headlines might make the evening news, but neither were directly responsible for the bond market improvement....(read more)Forward this article via email:Send a copy of this story to someone you know that may want to read it.