We had quite a volatile day yesterday. MBS prices moved to the lows of the day immediately following the 10 year treasury auction and then even lower after the Fed statement an hour later. This forced many lenders to reprice for the worse, pushing mortgage rates higher. However after market participants had time to review the Fed statement MBS prices moved higher. Since the gains occurred late in the day, lenders did not pass along the improvements which has allowed for improved rate sheets this morning.
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Mortgage Rates Slightly Lower After FOMC
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