| Jun 14, 2011 5:06PM After stagnating for six straight session, benchmark interest rates finally broke technical support today and erased a chunk of positive progress. Bonds got going in the wrong direction late last night after Chinese officials reported a 34-month high in consumer level inflation and better than expected industrial output. While this news helped stocks extend a recovery bounce that began yesterday afternoon (following a test of long-term support), bonds really didn't feel the pain until U.S. data flashed... Jun 14, 2011 5:35PM The trend of increasing home loan borrowing costs that began last Thursday continued today. Best-Execution mortgage rates are on the verge of shifting higher as a result. We'd still describe this current weakness as the longer term rates rally taking a "breather" after two months of strong improvements. Perhaps it's more appropriate to say that the term "breather" still applies given the periodic pull-backs normally seen during extended rallies. Although recent losses don't necessarily break the...
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