Mortgage Rates Steady To Slightly Improved After Strong Treasury Auction

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Posted To: Mortgage Rate Watch

Mortgage rates held their ground for the most part, though some lenders were slightly weaker when the day's first round of rate sheets came out this morning. The somewhat bumpy morning eventually leveled off into the afternoon before getting a significant dose of positivity from a well-received 30yr Bond Auction. As we often note, although US Treasuries are NOT directly linked to mortgage rates, they do tend to move in the same direction most of the time. The Mortgage-backed-securities that ARE directly linked with mortgage rates can ride the coat-tails of surging Treasury yields, and did so today. This helped the general mortgage rate landscape shift from a rather lackluster morning to improved rates in the afternoon. Lenders typically don't plan to release more than one rate sheet each day...(read more)

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