From Reuters: US mortgage rates post record daily move.
The average rate on a 30-year U.S. mortgage with no upfront points jumped 3/8 percentage point on Tuesday to 6-5/8 percent, in the biggest one-day move in the ten years that BestInfo Inc. has tracked the rates.
A 75 basis point move in a bond market is the equivalent of an atomic bomb being casually tossed into the fray.
Body Slam!
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