Mortgage ratesÃ‚Â were slightly higherÃ‚Â today, but remain in much better shape overall when compared to the last month of 2016. Ã‚Â In many ways, the new year marked a shifting of gears for rates, or rather, the bond traders whose actions dictate the day-to-day movement.
After the election, with its explosive consequences for financial markets, bond traders were only thinking one thing: duck and cover! Ã‚Â In practice, this simply means that it was easy to convince bond traders to sell Ã‚Â (which pushes rates higher) and nearly impossible to convince them to buy (which would help rates recover). Ã‚Â