Mortgage Rates Recover Moderately After Starting at 3-Week Highs

After spending the entirety of last week calmy holding the lowest levels in more than 3 years, mortgage rates jumped sharply higher yesterday. That said, everything’s relative. Even after that „sharp“ increase, the average rate was still one of the lowest in years apart from last week. There was slightly more cause for concern this morning as the underlying bond market increasingly swooned.  When bonds lost ground, r…