Mortgage Rates Continue Holding Ground, but For How Long?

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Posted To: Mortgage Rate Watch

Mortgage rates haven't made any sudden moves recently. Not only that, but most of the moves have been in a friendly direction this month. There have only been 2-3 days of volatility surrounding the Greek bailout negotiations (European bond market volatility spilled over into domestic bond markets, which affect mortgage rates). Other than that, it's been a slow, steady move back to July's lows--so steady, in fact, that we might start to wonder: "what's the catch?" There's no reason to ask this question other than the tendency for financial markets to NOT continue to trade in same direction, by the same amount, for too many successive days. With the exception of Monday, we've seen 7 consecutive business days where rates have moved slightly lower, and that's a lot. Bottom line, if you've been...(read more)

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Source: http://www.mortgagenewsdaily.com/consumer_rates/491005.aspx

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