Mortgage Rates Highest in a Week

Mortgage rates rose moderately for the 3rd day in a row today, bringing them to the highest levels since December 31st for the average lender.  In outright terms, this equates to an increase of an eighth of a percentage point (.125%) since the most recent lows last Thursday.
While it’s only 3 days of weakness in the mortgage market, the concern is that it could be part of a much larger market trend.  Stock prices and interest rates moved lower together for the better part of 2 months.  The drop was relatively extreme for stocks, and nothing to shake a stick at for rates.  The risk is that we’re only in the early phase of a bigger correction.  While that would be great news for stock market investors, it would be less pleasant for those with a vested interest in lower mortgage rates….(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.
Source: mortgagenewsdaily.comNew feed