Mortgage Rates Staying Calm to Begin Week

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Posted To: Mortgage Rate Watch

Mortgage rates did move microscopically higher today, but that's about the worst thing to be said about them. In fact, it's one of the only things to be said about rates anywhere! The bond markets that underlie mortgage rate movement were exceptionally quiet today. This is a trend that's been waxing for two distinct reasons. The first is normal: it's summer! While it's easy to think of financial markets as ruthless electronic hubs of ceaseless activity, they actually depend on the presence of people. And those people (or people they rely on) tend to be out of the office in greater numbers this time of year. The other reason is the subsiding focus on the high drama in Europe. The drama surrounding the Greek bailout negotiations had been a focal point for financial markets recently. granted,...(read more)

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Source: http://www.mortgagenewsdaily.com/consumer_rates/490395.aspx

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