Mortgage Rates Moving Sideways - Quiet Today

Mortgage rates are moving sideways to slightly higher so far today.  After yesterday positive movement in the MBSs, we are seeming to push it back the other way around this morning.  So far at 11:00AM, we have the 10yr unchanged at 2.57% and the MBSs a negative 10BPS.  There was not much volatility yesterday, but it still remains.

Today, we do not have any domestic events to shake up the markets, but we did see some reports from across the oceans.  Germany, who is still recovery from their latest terrorist attack, got some good news in regards to their PPI which was stronger than anticipated.  Japan left their interest rates alone, and China handed over our lost naval drone.

Since there is no economic news due out today, I am really not anticipating much movement in mortgage rates.  The only thing that is likely to have anything move today is a surprising geo-political event.