Mortgage ratesÃ‚Â fell today,Ã‚Â undoing enough of this week’s damage to return precisely to levels seen last Friday. Ã‚Â In simpler terms, rates ended the week ‘unchanged.’ Ã‚Â That’s not for lack of volatility during the week! Ã‚Â 4 out of the 5 days saw bigger-than-average moves. Ã‚Â Tuesday and Wednesday alone pushed rates more than an eighth of a point higher. Ã‚Â But Friday and Monday’s improvements were enough to offset the weakness.
Rates benefited from this morning’s economic data. Ã‚Â Specifically, the first reading on Q4Ã‚Â GDP was weaker than expected. Ã‚Â Weaker economic data tends to push rates and stock prices lower.Ã‚Â