| Jul 19, 2012 9:56AM Yesterday we all learned what lock desks and pricing engines already knew: mortgage applications in the U.S. jumped last week by the most in a month. It is hard for borrowers not to see how low these rates are, since they're all over the newspapers. The MBA's index, which reportedly covers 75% of retail applications, was up nearly 17%. This was due almost entirely to refi's, which were up over 21% from the week before. (Purchases were basically flat.) The industry keeps waiting for the percentage... Jul 19, 2012 3:06PM Mortgage Rates bucked their recent trend and moved higher today, though the increase was fairly minimal for most lenders and almost imperceptible at others. Rates faced a tough environment right from the outset today as European markets led domestic bond yields lower overnight. Using 10yr Treasury yields as a rough guide-post for broader rates markets, there's some sense of a pause or a floor at the recent all time lows of 1.442. After hitting those levels for a 2nd time on Monday, broader rates...
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