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Rates Bounce Higher; Brexit Effect on Refis; Auto Loans Predicting Mortgage Delinquency?

Rates Bounce Higher; Brexit Effect on Refis; Auto Loans Predicting Mortgage Delinquency?

Mortgage rates moved higher today after hitting the lowest levels in roughly 2 weeks last Friday. Today's increase was fairly minimal in the big picture. In fact, most of Today's quotes are essentially unchanged from Friday. But there was some weakness in underlying bond markets that didn't make it through to lenders' rate sheets. In other words, unless bond markets stage a rally overnight and tomorrow morning, tomorrow's rates will be higher. Last week, I mentioned that the more aggressive approach to locking/floating would be to wait until we had clear evidence that suggested the trend of recent improvement had ended before locking. In assessing such trends, we can use certain key levels in bond markets. The key level we've been following on MBS Live is 1.52% in 10yr Treasury yields, which
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