With current levels at 3.77%, the market needs to boot strap itself back together or further downside (worsening mortgage pricing) will occur
Today’s day-end close will be very important. We need to hold 116 22/64th on the futures chart (yield equivalent is 3.75%) to feel better about the range trade continuing. With current levels at 3.77%, the market needs to boot strap itself back together or further downside (worsening mortgage pricing) will occur.