Mortgage Rates Quickly Find Themselves at 1 Month Highs

Mortgage rates continued higher for the 5th day in a row today.  This brings the average lender to the highest levels in exactly one month. At issue: a series of stronger economic reports at home and abroad have eased concerns about global growth.  Not only is a strong economy associated with higher rates in general, but those “concerns” were a big part of the Federal Reserve’s decision to be more bond-friendly back in March.  With concerns arguably lessened by recent data, investors may be assuming the Fed won’t be quite as bond friendly going forward.  All that having been said, the Fed is NOT likely to make any big changes after one solid month of global economic data….(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