Today's Interest Rate News
June 22, 2016; 9:13am
Interest rate trends: Today – Flat; 10 days – Flat; 25 days – Lower
Interest rate recommendation: Very cautious float
Mortgage Bonds (MBS’s) are flat again this morning, which is good when Existing Home Sales for May came out at expectations, 1.8% better than the prior months reading and at a 9 year high. MBS’s lost some ground yesterday afternoon and has caused rates to be slightly worse today than yesterday. Yellen will have her 2nd day of testimony before Congress, which could cause some movement to rates, but investors are mostly watching the Brexit vote that will occur tomorrow. The Fed’s Powell agreed that rates will likely be volatile after the Brexit vote. Hold on, it will be interesting. Have a great day!