Mortgage rates began the day at broadly higher levels, as bond markets moved higher in yield overnight and again after the morning’s economic data.  Even though this morning’s GDP was weaker than expected, bond markets strengthened only briefly before continuing further along yesterday’s path of weakness.  Typically, weak economic data suggests stronger moves in bond markets, in which MBS (the mortgage-backed-securities that directly affect mortgage rates) operate.  Rates were generally weaker than

Read more »