Mortgage Rates Steady as Stocks Set New Highs

Mortgage rates are holding steady even as stocks continue to make new 2009 highs. After some early morning selling pressure yesterday, prices of mortgage backed securities managed to regain much of the losses they suffered on Friday. So far this morning we've managed to hold onto about 2/3rds of those gains, weathering a storm of better than expected economic data and rallying stock markets. Our next hurdle: the 2 yr note auction at 1pm eastern….(read more)
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