Mortgage Rates Start Steady But End Day Under Pressure

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Posted To: Mortgage Rate Watch

Mortgage rates began the day in a fairly hopeful way. Underlying bond markets were just slightly stronger and a few lenders offered modest improvements over yesterday’s latest offerings. Things began to change in the afternoon following news that Trump and the EU’s Juncker struck a deal to avert a trade war between the US and EU. This hurts rates largely because the threat of additional trade tensions is one of the things that’s been helping rates. As such, any development that helps ease trade tensions runs the risk of putting upward pressure on rates. Several lenders have already recalled rates sheets and published higher rates this afternoon. More could join them in the last few hours of business. While we’re not talking about massive changes here, every little bit hurts considering rates…(read more)

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