Mortgage Rates Barely Budge Despite Market Gains

Mortgage rates didn't move much today, despite a somewhat decent improvement in bond markets.  Overnight, trade war brinksmanship between the US and China had investors seeking the safe haven of bond markets.  Excess demand for bonds pushes rates lower, all other things being equal.

As is often the case with safe haven trades, US Treasuries saw more of the benefit than the bonds that underlie mortgage rates.  The net effect is a move back in line with last Friday's levels for the average mortgage lender.

This Daily Mortgage Rate Update is provided in partnership with Mortgage News Daily.