Mortgage Rates SHOULD Have Fallen Yesterday, But They Didn't

It's Thanksgiving Week and already we're seeing the effects that vacationing traders are having on markets. Out of nowhere, mortgage bonds rallied late yesterday, pushing mortgage bond yields downward in the last hour before the market closed. Typically, mortgage rates will mirror the yields of mortgage bonds, dropping when yields drop and rising when yields rise. Yesterday? No such luck. Ever protecting their profits, mortgage lenders chose to ignore the rally and many held their respective mortgage rates unchanged. This...

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[Source: The Mortgage Reports Blog]