Believe it or not, bond prices are moving higher again today, mostly at the long end with the yield on the 10 year note holding at 2.90%. Stock markets are falling again based on continued weak economic data, including and increase in weekly jobless claims and a decline in manufacturing.
Other weak data driving investors into U.S. Treasuries came from Europe and China as they reported declining economic activity based on a decline manufacturing activity, and Spain was put on credit watch.
Mortgage prices are flat this morning from the close on Tuesday, but remember, trading will be very light as we head into the Independence Day Holiday weekend, so we could see some volatility.
HSOA would like to thank all of our partners and associates for making June a terrific month! Loan volume continues to be high, so please do not delay in submitting your loan files and conditions to ensure timely July closings.
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