Mortgage Rates Up To 3-Week Highs

Mortgage rates rose today, resuming an upward trend that began last week after political turmoil in Italy began to die down.  More simply put, rates had been rising in mid May.  Italy’s political turmoil caused enough concern about the fate of the Eurozone that investors moved money into bonds, thus helping rates move lower.  As risks subsided in Europe, rates have returned to similar levels as those seen in the first half of May.
Any talk of rejoining an upward trend that began last week is a bit misleading.  In fairness, the broader trend has been toward higher rates since last September.  Last week’s move was one of the many volatility little episodes inside the broader trend….(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