Hot news from AZ Home Help:
Posted To: Mortgage Rate Watch
It was an exciting day in the bond market. Early in the trading session, the environment looked unfriendly for mortgage rates. Stocks were rallying and the first round of rate sheets released by lenders were worse than yesterday's. But then the tide turned after a rush of economic data and headline news events flashed at 10:00am. Stocks soon lost steam and the major indexes fell. This helped mortgage rates benefit from another investor "flight to safety" into the bond market. and gave lenders a chance to reprice for the better, which wiped out early morning losses and left loan pricing basically unchanged vs. quotes yesterday. Best Execution didn't budge and in most cases, closing costs didn't either. A "flight to safety" happens when investors are nervous about owning risky assets like stocks...(
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www.mortgagenewsdaily.com - For more real estate news visit our website at http://www.AzHomeHelp.com
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