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Mortgage Rates Steady at Long-Term Highs Ahead of Fed
MAY 3, 2022 - Mortgage rates hit their highest levels since 2009 yesterday amid the fastest spike since the early 1980s. Today's rates were very similar on average, but the bond market left some room for mortgage lenders to offer improvements during the day. A few of them did, but bond gains evaporated in the afternoon, resulting in rates returning back to long-term highs by the close.
As for motivations, today's volatility wasn't overtly connected to any individual root cause. The best cases for correlati...
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