Posted To: Mortgage Rate WatchMortgage rates have been more or less unchanged since August 10th . That’s an impressively boring streak even by summertime standards. Why does summertime matter? Simply put, rates are ultimately a factor of trading that’s conducted directly or indirectly by humans. Humans tend to feel and act more “vacationy” in August, whether they’re in the office or not! While this dynamic can sometimes create imbalances that cause volatility, the typical result is lower volatility. We’ve seen 2 great examples of this so far this summer–first in late June through late July, and now over these past 2 weeks. The flat trend will change sometime fairly soon, but HOW soon is anyone’s guess. Tomorrow brings the Federal Reserve’s Jackson Hole symposium, which has been an event that has broken such stalemates…(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
Michael Ayoub, Author NMLS ID 6631