After the traumatic effect the election and the subsequent Fed rate hike had on interest rates, we have begun to see some progress in rates coming back down. 30 year fixed conforming rates which had risen from the mid threes all the way up to 4.375%, were back at 4.125% today. Rates which always increase at a much higher pace than they fall back down finally are catching up to the pricing of the underlying bonds. The Dow closed nearly flat today.
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