General Bond Trends
Today doesn’t have any economic data scheduled for release that we traditionally rely on to influence bond trading or mortgage pricing. This overall negative tone in bonds doesn’t seem to be letting up, pushing yields to their highest level since before the great financial meltdown. In the short-term, it would be wise to proceed cautiously if still floating an interest rate and closing soon. However, over the longer-term, there is a good chance yields (and mortgage rates) will eventually retrace some of this upward move, especially if stocks continue to slide.