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Mortgage Rates Move Slightly Higher, But Still Effectively at 3-Month Lows

Mortgage Rates Move Slightly Higher, But Still Effectively at 3-Month Lows

A Bit of Meaningless Weakness. More Important Stuff On Deck Bonds lost ground to start the new week, but not for any compelling reasons.  If we could even make a case for the weakness being caused by something, we'd be forced to rely on unsatisfying explanations like technical corrections or a leveling off of the prevailing trend ahead of bigger-ticket data.  All that having been said, today was unequivocally a leveling-off of the prevailing trend ahead of bigger ticket data.  The focus is not so much on the 7-8bps of 10yr yield weakness on this data-free day, but rather on the 20-40bps of movement that could be seen in response to economi
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