Posted To: Mortgage Rate Watch
Mortgage rates finally moved noticeably higher today, something they haven’t done on 11 out of the last 12 days. Yesterday, I pointed out that such a winning streak is not the sort of thing we see too often, and that a step back toward higher rates was increasingly likely. This, then, is that step, but the same difficult question remains. Will it simply be a brief correction or the beginning of a broader bounce? As of this evening, the magnitude of the weakness and the volume behind it are just barely getting up to levels where they shouldn’t be disregarded as a mere course correction. That’s still the least defensible of the two options though. Reason being: even after today’s losses, the recent downtrend leading back from 2015’s highest rates in early March remains intact . It would take…(read more)
Via:: Mortgage Rates Bounce Higher From Recent Lows
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