Mortgage Market Update 9-27

Mortgage bonds are down again for the third day in a row. Successfully giving back nearly all the rate gains we had seen last week.  Why you ask are did we lose steam on that amazing rate rally, well watch the video to find out.  I’m moving to a cautiously floating stance as we near the bottom end of the new trading channel.  Today’s news held for us national home price levels and consumer confidence numbers, plus we kick off the first of 99 billion in auctions today.