MBS RECAP: Ominous Movement in Rates Ahead of Fed

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Posted To: MBS Commentary

Someone wants us to think that rates are heading abruptly higher. Well, to be fair, it's not so much about wanting anyone to think anything. It has more to do with someone (a lot of someones actually) making trades that are actually pushing rates abruptly higher. They did a good job 2 weeks ago, but took a break on Thursday and Friday. Then they did a good job this past week and took the same break . Now the pattern is repeating with the first half of the week marking a return to unequivocal selling pressure. Our best case scenario when it comes to all this weakness, is that it's with an anxious eye toward tomorrow's FOMC Minutes. Hopefully, traders are concerned that the Minutes will hold some clue as to the rate hike timeline that the Fed is no longer talking about explicitly...(read more)

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Source: http://www.mortgagenewsdaily.com/mortgage_rates/blog/473025.aspx

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