wrote an interesting post today on
Here’s a quick excerpt
Mortgage rates were abruptly higher today,
moving back toward the highs of the month and erasing most of the
improvements seen since the Employment Report on August 2nd. After an
excessively calm week last week, market participants had eagerly
anticipated today’s Retail Sales report as the first major dose of
information since that Employment Report. Rates were already on the
move higher ahead of the data owing to bond market weakness in
overnight. While the headline numbers on the Retail Sales report
weren’t as high as expected, not only was the previous reading revised
higher, but the other components of the report–such as those that strip
out the more volatile auto sales–were stronger than expected. By the
end of the day, the most prevalent 30yr Fixed quote (best-execution) is edging up from 4.5 to 4.625% for some lenders.
…(read more)
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