In a week of up-and-down trading, mortgage markets improved for the second consecutive week last week. Weaker-than-expected jobs data plus evidence of a slumping Eurozone took mortgage bonds lower, capped by a furious Friday morning rally that dropped mortgage rates to near-record levels.
Once again, volatility ruled the bond pits. Continue reading
Mortgage rates improved last week during a holiday-shortened trading week. The mortgage bond markets closed Monday for Christmas, and closed early Friday afternoon. Trading volume was light all week-long, which contributed to a year-end rally.
Mortgage bonds made their largest one-week gain in two months as conforming mortgage rates in California fell to new lows nationwide. Continue reading