Nice Bounce Back For Mortgage Rates After Rocky Start This Week

Posted To: Mortgage Rate Watch

Earlier in the month, mortgage rates rose somewhat abruptly as lenders got in a defensive position ahead of the election. They’d learned in 2016 just how volatile the bond market (the key ingredient in the rate movement equation) could be after an election and it made sense to minimize exposure to risk. Following the election, rates improved just as quickly, with the average lender at the best levels in weeks last Thursday. But at the beginning of the current week, Pfizer’s vaccine news caused bonds to jump again. In the blink of an eye, rates were back up to the levels seen just before the election. Today always stood a chance to offer some clarity for rate trends. Markets move in one direction heading into a trading holiday and then bounce back afterward. This isn’t a rule, however. We can…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Mortgage News Daily

Tags: , , , , , , , , ,
Previous Post

Housing Affordability Declines in September 2020 as Median Family Prices Continue to Surge

Next Post

Serious Delinquencies Set Records as Early Rates Trend Down

Leave a Reply

Your email address will not be published. Required fields are marked *