Posted To: Mortgage Rate Watch
Mortgage rates were initially lower this morning as global bond yields continued to plumb record lows. There was widespread coverage in financial news of Germany’s 10yr bond yield dipping into negative territory. That’s important for a few reasons–not in terms of bringing any new information to light, but simply as an opportunity to stop and reflect on the broader interest rate landscape. We’ve been talking about the implications of European markets on US mortgage rates for quite a while. The level of concern and interest waxes and wanes, but in general, overseas volatility has been an increasingly important consideration for domestic rates markets. Over the past 2 decades especially, as technology makes the global marketplace a “smaller world,” big market movement in Europe ends up pushing…(read more )