What's Ahead For Mortgage Rates This Week : April 26, 2010
By Bob Phillips, CDPE, SFR, South Orange Co., CA
(Realty ONE Group)
Mortgage markets worsened last week in see-saw trading. By the time Friday's market closed, mortgage rates were higher across the board -- ARMs, fixed rates, FHA and conventional. The biggest stories of last week were actually non-stories. First, the ash cloud from Iceland’s Eyjafjallajökull volcano dissipated, allowing warehouses to move inventory, airlines to move people, and businesses to move product. In addition, Greece moved closer to securing emergency funding that will help it stave off default. When these two issues were threats earlier in the month, mortgage bonds rallied on safe haven buying, driving rates down. As the threats lessened over the course of last week, however, mortgage bonds sold off and mortgage rates rose. By contrast, this week features lots of stories. Eco...
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