Posted To: Mortgage Rate Watch
Mortgage rates moved firmly up to the highest levels since March 17th. Incidentally, there was a Fed Announcement on March 18th and another Fed Announcement today. While rates generally moved lower with good momentum after the last Fed Announcement, we shouldn’t be quick to assume that today’s Announcement is the reason they moved back higher. In fact, today’s weakness was intact before US markets even opened. European trading has frequently contributed to noticeable overnight movement in US Treasuries which, in turn, always contribute to movement in the mortgage-backed-securities that dictate rates. Europe had a rough night. Their benchmark lending rates have been threatening a move higher since mid April, but it never really materialized until today. All of the above got the day started off…(read more)
Via:: Mortgage Rates at 6 Week Highs, But Why?
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