Mortgage Rates Find Some Support as Stocks Cool Off

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Posted To: Mortgage Rate Watch

Mortgage rates moved higher over the past 2 days, but managed to find their footing today. I’ll be the last person to claim interest rates and stock prices must follow one another, but at times, their relationship is the most convenient way to understand the market. Stocks had been rising last week while rates were holding at the lowest levels since September 2017. More than anything, this reflected optimism on both sides of the market surrounding potential Fed rate cuts in 2019. Last Friday provided some important insight. The hotly-anticipated jobs report came out much weaker than expected. That’s the sort of thing that would certainly make traders all the more likely to expect Fed rate cuts. Indeed that was the case, but trading levels suggested the bond market had already found its maximum…(read more)

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