Mortgage Rates Flat Ahead of Potential Volatility
Mortgage rates were steady again last week, holding on to the improvements seen following a surprise "flash rally" in bond markets. Such flash moves always create the risk that rates will experience a correction that takes them quickly back in the other direction, so Friday’s "flat" performance is actually fairly positive in the bigger picture.
Still, last week’s rate levels aren’t even close to recent extremes. In order to see those boundaries tested (for better or worse) we'll need to wait for the more important events on tap for this week. These include several major economic reports as well as policy announcements from the Fed and the European Central Bank.
Courtesy of Rick Lombardo 310.435.7439, Rick.Lombardo@grarate.com, VP of Mortgage Lending at Guaranteed Rate.
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