Mortgage Rates See Small Decline Ahead of Busy Day of Data
Posted To: Mortgage Rate Watch
I was unable to write the blog on Friday because I was without power thanks to a record amount of snowfall in Dallas. Thank you Adam for stepping in with your post and updating the readers Last Friday, although mortgage-backed securities prices did move higher, the improvements did not lead to reprices for better as banks were reluctant to pass along better mortgage pricing with a long 3-day weekend ahead. U.S. markets were closed yesterday in honor of President's Day. The only economic report to hit the news wires this morning was the Empire State Manufacturing Survey. Each month, the New York Federal Reserve conducts a survey of approximately 175 manufacturing executives in New York State on the strength of business conditions. Readings above 0 indicate expanding or improving conditions...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.