The bond market made an about-face this week as a trio of news events paused the rising rate trend and sent investors back into bonds.
Analysts last week felt the yield on 10-Year Treasury bonds, which are followed closely by mortgage rates, would move even higher to 3.2 percent, after eclipsing 3 percent for the first time in seven years. Instead, 10Y yields retreated to 2.96 percent in light of geopolitical turmoil and Federal Reserve statements indicating the central bank was more dovish that previously thought.
Continue reading How a market trifecta rallied bonds at Movement Mortgage Blog.
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