Mortgage rates improved by .125% yesterday afternoon because of technical trading patterns that we had identified in yesterday’s rate update.
Today there are two factors which we think provide a favorable outlook for mortgage rates in the near-term. Watch today’s you tube video for an explanation.
The stock market is trading lower this morning in response to weak outlooks from a couple major corporations. Read this link to get an understanding of how the stock market can impact mortgage rates.
From a technical standpoint mortgage-backed bonds look like they’ll continue to rally off their lows. Watch today’s you tube video to see how high we think they’ll go.
Current Outlook: cautiously floating
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