Mortgage Rates Recover Slightly

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Posted To: Mortgage Rate Watch

Mortgage rates recovered just a bit today after hitting the highest levels in more than a month yesterday. The inspiration for much of the recent upward pressure on rates can be traced to progress in Britain’s attempt to exit the European Union (aka “Brexit”). It’s not that Brexit is bad for interest rates. In fact, it’s definitely been a positive influence off and on for nearly 4 years now. Rather, it’s the manner in which Brexit is accomplished that matters to global bond markets, and thus, to interest rates. To be clear, European markets have seen the biggest effects, but there is some spillover in the US. The most important consideration at present is whether or not the UK will leave the EU with or without a deal. A so-called “no deal” Brexit would be the better option for fans of low interest…(read more)

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