Last week ended on a sour note for mortgage rate watchers. Weakness stemmed from the Treasury Department's scheduled announcement which laid out the terms of this week’s auctions (debt offering). This combined with the fact that it was a Friday afternoon, the data calendar was empty, and interest rates had done well enough throughout the course of the week to warrant some profit taking resulted in higher benchmark yields, lower MBS prices. Consequently lenders increased mortgage rates up to 0.125% on Friday morning. Here is a look at what will impact mortgage rates in the week ahead. For more, read the MND STORY . Monday No economic events Tuesday Existing Home Sales. Many economists believe housing must fully stabilize and begin to improve before the overall economy can really gain…(read more)
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