As the broader market continued rubbing its eyes in disbelief over the Fed’s exceptionally calm attitude on inflation, bonds continued to improve today.  Stronger bonds mean lower rates.  The average mortgage lender was able to drop rates to the lowest levels in nearly 2 weeks–just a hair above March 11th levels. Most of the bond market improvement was in place before 9am and things were very calm after that.  This meant minimal mid-day price changes.   Next week has less by way of consequential calendar events compared to this week and it’s also made shorter by the Good Friday Holiday closure.  After that, volatility risks will be increasing quickly as the first week of April brings several highly consequential reports. 

Published On: March 22, 2024 / Categories: Mortgage News /