Loan Mortgage Rate Update
From Mortgage Daily News:
Jun 6 2014, 3:24PM
Mortgage rates remained very close to yesterday’s latest levels, though that varies depending on the time of day. Though they returned closer to ‘unchanged’ in the afternoon, earlier this morning, rates were slightly stronger (lower) after an uneventful Employment Situation Report. This is the most important piece of economic data in the US, and for it to come in so perfectly in line with forecasts is rare. For that to happen a day after the European Central Bank (ECB) adjusted policy almost perfectly in line with forecasts is downright spooky. Bond market trading levels (which ultimately inform mortgage rates) are right where they were hours before yesterday’s ECB news, like it never even happened. Click here to see the rest of the article.
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