Mortgage Rates Fall For Sixth Straight Day

Mortgage rates fell modestly for an impressive sixth straight day today. Yet again, we’re seeing little attention paid to the events in the US that NORMALLY influence interest rates. Case in point, stronger economic data typically pushes rates higher, and three out of three economic reports were stronger than expected today. The dark horse market consideration continues to be Europe. Specifically, expectations for further accommodation from the European Central Bank combined with real economic deterioration in the Eurozone are motivating record low rates in European bond markets and US markets are interconnected enough to get some of that benefit.

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