Bond markets remain within the recent range due to influence from overseas. We started out the domestic trading session in hopes that we would break through the lower boundary of 1.52% (in 10 year yields), however, the overnight session brought nothing exciting. We might have Japan to blame for this, as traders were on vacation today. Yields in Europe began rising straight out of the gate, and British yields bounces as well. We also saw a surge in stock and oil prices domestically. Trade flow momentum was already stagnant by the time the 30 year bond auction began at 1pm ET today. We are looking for tomorrow's retail report to inspire some movement tomorrow. Check back here for more mortgage news and rate updates.
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• 30 year (FRM) rates at 3.40% (+0.02%).
• 15 year (FRM) rates at 2.76% (+0.02%).
• FHA 30 year Fixed rates at 3.25% (+0.00%).
• Jumbo 30 year Fixed rates at 3.50% (+0.02%).
• 5/1 ARM rates at 2.83% (+0.02%).
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