Mortgage Rates Sideways to Slightly Higher Despite Stock Rout

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Posted To: Mortgage Rate Watch

Mortgage rates were just barely higher in many cases today, although underlying bond markets recovered enough ground by the afternoon to suggest Monday’s rates will recoup those losses. The only catch is that other factors can have an effect on bonds between now and then. If bond markets are weaker by Monday morning, this afternoon’s strength will be overshadowed. Bottom line here: rates will start Monday with a very slight advantage “all things being equal.” Incidentally, the reason we don’t see this advantage today is that the bond market gains were small enough and happened late enough in the day that mortgage lenders didn’t update their rate sheets. The source of inspiration for the aforementioned bond market strength was a much bigger move in stocks. The latter are generally freaking out…(read more)

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