Mortgage Rates Moving Higher
Quick market update as mortgage bonds are weakening in today's trading. Expect to see mortgage rates continue to drift higher this afternoon or tomorrow.
As I wrote during the last two weeks, expect it to take 4-5 weeks before we see another dip near or at the lows we saw two weeks ago.
Yep, the Fed cut their Overnight Rate and mortgage rates headed higher. Please don't follow the general media headlines to gauge where and when mortgage rates move. They are behind the curve on what really determines how mortgage rates price day-in and day-out.
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