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Mortgage Rates Just a Bit Lower as Winning Streak Hits 5 Days

Mortgage Rates Just a Bit Lower as Winning Streak Hits 5 Days

Strong in The AM, Weaker in The PM Bonds improved fairly steadily in the AM hours.  After an initial glut of buying demand in the first hour of trading, there was a linear trend channel to the best level of the day right at noon ET.  After that, a similarly linear trend took bonds back toward (but not into) weaker territory.  None of the above occurred outside a range that we'd consider anything other than uneventful.  Overseas data and trading likely helped play a role in the ebb and flow.  The 3yr Treasury auction didn't have a big impact, but concession-building for tomorrow's 10yr auction could have contributed to the afterno
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