Mortgage rates were officially lower today, despite some weakness in the bond market. In general, bond market weakness coincides with rates moving higher. This time around, the weakness was minimal, and mortgage lenders had a bit of catching up to do with respect to yesterday's bond market gains. The changes were very small for the average lender, but they technically result in yet another long-term low (best rates since January 2018).
Clouds began to roll in by the end of the day in response to a glut of news out of the UK. As expected, British politicians voted to avoid exiting the EU without some sort of deal. On a somewhat unexpected note, there seems to be a quickly growing consensus that a different brexit compromise deal has enough support to pass, or at least to come much closer than the just-defeated compromise deal. This is giving markets hope for a less uncertain outcome....(read more)