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What Mortgage Rates Will Do Over The Next 30 Days (July 9, 2009 Edition)

Thu, 07/09/2009 - 12:00

5 weeks ago, Wall Street was mostly convinced that the economy was about to turn a corner. At the time, traders were piling into the stock market, chasing big gains and selling everything risk-averse. Mortgage bonds were in very low demand and the supply glut pushed rates north of 6 percent. Since then, the world has calmed down a bit. Housing and manufacturing continue to show strength, but some key pockets of economic weakness have poked investors into taking some profits off the table.


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