Mortgage Rates Break Thanksgiving Tradition

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Posted To: Mortgage Rate Watch

Mortgage rates broke from tradition today by maintaining an almost perfectly flat trajectory leading up to Thanksgiving. This time of year is typically marked by lighter participation among the trading community whose trades ultimately dictate mortgage rates. When fewer of them are about, volatility can increase in financial markets. In years past, it's been common to see a small imbalance among traders translate to a quick move in one direction or another for rates. Perhaps there is more uncertainty and anxiety this year, resulting in market participants being less willing to bet too strongly for or against any particular rate movement. This would stand to reason with the Fed's first rate hike in 11 years seen as a near certainty just a few weeks from now. Whatever the case may be, mortgage...(read more)

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Source: http://www.mortgagenewsdaily.com/consumer_rates/536085.aspx

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