Mortgage Rate Winning Streak Continues
The Trend is Friendly For Now A common financial market quip is that the "trend is your friend." We like to add the addendum: "until it's not anymore." All we can know for sure is that bonds have shifted from range-bound to trending lower in yield over the past 3-4 days and today was just another confirmation of that shift. What we can't know is when the next show of resistance will happen and whether that will merely be a speed bump before additional gains, or a sign to circle the wagons and get sideways again. Data wasn't necessarily a huge factor in today's improvement although it didn't hurt. Bonds have an underlying vigor for
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