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Yes, Mortgage Rates Are Now The Highest in More Than 20 Years, But Not Much Higher Than Yesterday

Yes, Mortgage Rates Are Now The Highest in More Than 20 Years, But Not Much Higher Than Yesterday

August 17, 2023
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Bonds Came Here to Chew Gum and Sell Off, And They're All Out of Gum There comes a time in protracted bond market selling sprees where the momentum takes on a glacial quality.  Intraday volatility may pay some heed to discrete big-ticket events, but the rest of the day is spent moving steadily toward higher yields in a mindless and disconnected way.  The past week and a half is a perfect example and today was no exception.  Yields were actually at their lows of the day an hour after the AM data, so we can't really blame it for the sell off that took 10s to the brink of their highest levels since 2007 (or mortgage rates to their highes
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