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Mortgage-market moves stay subdued as economic data stays light

Mortgage News Daily said the day’s bond and rate shifts were small enough to be unlikely to reflect major catalysts.

Reported · Written up by our desk · Mortgages

Mortgage rates and related bond-market activity remained in a narrow range, with Mortgage News Daily describing Monday’s modest strength as largely erased by Tuesday’s equally modest weakness.

The outlet said there was no obvious catalyst driving the moves, even as some observers might link them to broader market factors such as oil-price sensitivity after Iran’s attacks on commercial ships in the Strait.

Mortgage News Daily also pointed to a separate item that could matter to markets, Amazon’s filing for a potentially large corporate bond offering, while noting it was not clear this would be a dominant driver for mortgage-rate pricing.

Looking at the day’s schedule, the outlet said the economic calendar data was light overall, implying that the incremental rate movement did not appear tied to major releases.

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