Mortgage Rates Heading Higher Into New Month

Mortgage rates finally made a move higher today as financial markets transitioned from 2nd to 3rd quarter trading strategies. Most frequently, we see things like economic data and news headlines pushing trading levels in bond markets in either direction. When that effects mortgage-backed-securities (MBS), mortgage rates end up moving as a result. Today was an exception to the norm, however, as the economic data had little bearing on MBS.

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