Mortgage markets tanked last week, raising rates to their highest levels in a month. Most of the losses occurred Wednesday in what was the worst 1-day mortgage market performance in over than 6 months.
Last week mortgage markets closed unchanged (meaning no increase or decrease in rates), but that’s not to say mortgage rates were calm. Monday through Wednesday, rates improved steadily before a swift, late-week sell-off flushed all the gains down the toilet. Mortgage rates have been very low for a very long time, against the expectations of…Read the Rest of Article
