Mortgage Rates Edge Slightly Higher

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Posted To: Mortgage Rate Watch

Mortgage rates were modestly higher today amid exceptionally quiet market conditions. In general, the bond market (which underlies mortgage rates) has been sideways and fairly lifeless since the end of June. Until Friday, the same could be said for stocks. At that time, both sides of the market were waiting to see how other investors would react to the official implementation of new tariffs. Volatility surrounding the tariff launch suggests that the stock market was jumpier than bonds/rates. Still, rates have been willing to take some cues from the direction of movement in stocks. For instance, when stocks are surging higher, it can suggest investors are more comfortable with risk, and less eager to own bonds, which are considered a safe haven. When demand for bonds drops, rates rise. All of…(read more)

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