What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. Bond markets are weaker and mortgage rates haven't moved since yesterday. There is no real culprit for the MBS weakness. The economic data presented today was not a big market mover because it came out so close to expectations (Jobless Claims and Personal Consumer Expenditure). The 7-year auction at 1pm is the next potential market mover.
Wednesday: Mortgage rates continue their upward trend today. This steep climb begun at the beginning of June, had a short pause last week, and resumed its climb. The Greek debt drama takes center stage as the main cause behind rates. There is a lack of buying ahead of the 5-year auction today, which traders are waiting for.
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