mortgage rates... oof taking a hit today??
well lets get this thing started, today has brought on a whopping -53bps to the bond market and the 10Y treasury yield is almost to 3.20% (it was 2.90 a few days ago). This is being fueled by a ridiculous Chicago PMI number??? Maybe they missed the other reports and all other data going on in the world???
Seriously, I am a fan of positivity and believe a lot of results and opportunities come from the ability to look at the good in anything and keeping a "glass half full attitude". However, with that being said, we have a -53bps to bonds and a -24/32 to treasury's when all real data suggests otherwise but attach it to Chicago PMI report that is up about 5 points? (lol) Really the Chicago PMI??? I do not believe this is sustainable at all!
OK this reinforces my opinion and comments that no matter what the data is the market can be driven (for a short while) on anything it chooses.
I do not think this is sustainable and likely we will see some improvements come back later today.
Anyway this has been another update in the wonderful world of finance and mortgage
Make it a great day and stay positive things are getting better and you should be busy right now!!!