Mortgage rates added to last week’s improvement with another modest drop today. That brings the average lender to the best levels in exactly 2 weeks–a welcome change after hitting the highest levels in more than 3 months on Friday November 8th.
US/China trade relations have been a key source of volatility, but markets are also eager to see how economic data unfolds as 2019 draws to a close. The combination of a phase 1 US/China trade deal and reasonably resilient economic data could push rates much higher and confirm a rising rate trend for the next several months. Conversely, if the trade deal looks shaky and if economic data deteriorates, rates could take another run at the long-term lows seen in early September.
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Source: mortgagenewsdaily.comNew feed