Mortgage rates are unchanged from yesterday.
Our attention remains on stocks and the US Treasury auctions since there is no significant economic data out today.
Mortgage-backed bonds touched levels not seen since the spring late last week. Since then they’ve traded sideways. At this point mortgage rates are at all-time lows and we believe the risk of rates reversing higher outweighs the benefit of them moving lower by another .125%-.25%.
We will remain in a locking position.
Current outlook: locking