What's Ahead For Mortgage Rates This Week : January 11, 2010
By Bob Phillips, CDPE, SFR, South Orange Co., CA
(Realty ONE Group)
Data was sparse through 2010's first trading week last week, setting the stage for a week of momentum trading. In up-and-down trading, mortgage pricing improved overall but the best rates of the week didn't last long. Rates improved Monday and Tuesday as an oversold market corrected itself to better price points. Then, in anticipation of the December jobs report, rates worsened Wednesday and Thursday. Friday, after the jobs report was released, pricing proceeded to carve out a huge range before settling unchanged. On average, lenders issued new rate sheets every few hours last week. It was a difficult week to shop for mortgages. Unfortunately, this week doesn't figure to be much better. For the second straight week, the economic calendar is bare. Traders -- like last week -- will be...
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