What’s driving current mortgage rates?

Friday saw average mortgage rates fall again, meaning they were down on every day last week. That run canceled out all the previous week’s rises and took them adjacent to their lowest level in a month. And that, in turn, means they’re close to their lowest point in the last 12 months.

Early in the day, markets responded oddly to that morning’s employment situation report. And we called the likely direction of travel wrongly, though we did warn, “So things may well change in coming hours.”

The data below the rate table are indicative

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