Lowest Rates in Over a Month Despite Small Move Today

Today was a victory for mortgage rates, but not nearly as much of a victory as the underlying bond market would suggest. The good news is that the end result is the lowest average 30yr fixed rate in just over a month.  The other news isn’t bad, per se, but it is a bit confusing.  As we often discuss, mortgage rates are based on bonds because mortgages „turn into“ bonds in order to be traded on the secondary…