Michael Petruccelli says; Usually
refers to the daily buying and selling of thirty year treasury bonds. Lenders
follow this market intensely because as the yields of bonds go up and down,
fixed rate mortgages do approximately the same thing. The same factors that
affect the Treasury Bond market also affect mortgage rates at the same time.
That is why rates change daily, and in a volatile market can and do change
during the day as well.
