Last week, rates fell to all-time lows (again) Thursday. By Friday morning, though, pricing was worsening on profit-taking and in preparation for this week — a week that promises to be heavy on both data and rhetoric.
Despite re-touching all-time lows on Tuesday and Wednesday, Conforming and FHA mortgage rates moved higher on the week.
Market momentum is currently in the rate shoppers’ favor. We entered the weekend with rates falling and they look poised to open Monday no worse.
Mortgage markets improved last week in low-volume trading.
Mortgage markets improved last week as economic reports painted a less-than-stellar portrait of the U.S. economy and concerns of a looming monetary policy change eased. Mortgage pricing improved dramatically, despite a late-Friday retreat.
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