Mortgage Rates Improve on Only Slow Day of the Week
Posted To: Mortgage Rate Watch
Mortgage rates spent all last week attempting to recover from a few weeks of bad news in the bond market. We went home on Friday afternoon in good spirits as rates were seen at their best levels since the week before the Fed exited the mortgage backed securities market. The week ahead is very busy with many economic reports, Federal Reserve speakers, and the kick-off of earnings season. Typically during corporate earnings season, strong reports lead to a stock market rallies which unfortunately come at the expense of bonds. The opposite generally occurs when earnings are worse than expected. Earnings season kicks off today after the closing bell with Alcoa reporting. Beyond that mortgage rates will battle a full economic data calendar which is anticipated to show continued improvement in the...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.