Yesterday mortgage rates improved as we continue our journey into - TopicsExpress

Yesterday mortgage rates improved as we continue our journey into unknown territory. Mortgage backed securities made up half the ground that was lost on Friday following the June jobs report. We can take some solace in the idea that Friday was likely an overreaction to a decent, but not great employment report, fueled at least in part by an illiquid market due to the July 4th holiday. Whatever the case may be, mortgage bonds are rallying again this morning, and hopefully the positive momentum will sustain us throughout a day that is more or less bereft of economic data

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