Daily Rate Update: Mortgage Rates Fall Back to Unchanged After Morning Weakness

Mortgage Rates Fall Back To Unchanged After Morning Weakness

Mortgage rates were flat for the third day in a row , despite strong economic data and a weak 30yr Treasury Auction (two things that normally connote higher rates. Bond markets had already weakened appreciably overnight, however, and were thus in a better position to digest the data. MBS (the mortgage-backed-securities that most directly influence rates) clawed their way back to unchanged levels by 2pm Eastern time, and mortgage rates followed suit with many lenders “repricing” from higher rates…

Article source: http://www.mortgagenewsdaily.com/channels/mortgage_rates_update/300141.aspx

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