Mortgage rates hit 2017 lows last week and the storms battered the US and more war mongering by N. Korea.  But as the week progressed, we saw less and less improvement, and more traders get desensetized to all of the war talk, and more and more traders are focusing in on the US economy.

This week we are seeing mortgage rates climb higher, as the stock market continues to hit record highs, and in anticipate of the US government passing corporate tax reform.

Mortgage rates are going to be pretty flat this week, that is pending any news out of North Korea.  Towards the end of the week we will get quite a bit of volatile news, such as Unemployment, Manufacturing and Consumer Spending.  All these are key rate movers and all are coming out on Friday, right before a Holiday.  I suspect a big rate swing on Friday.

In this blog, mortgage rates are trending down, appraisal issues, and guideline changes.

Mortgage rates last week were pretty flat, squeaking out a minimal .06 reduction.  This week we are in a neutral stance, mainly because the Federal Reserve meets this week.  And although we do not anticipate a rate hike, we do expect some guidance on unwinding their balance sheet and by how much.  This will include the Fed NOT purchasing any more mortgage back securities (MBS).  The Fed has been purchasing MBS  for 8+ years now, keeping mortgage rates artificially low.  As they start to NOT purchase MBS and also potentially selling MBS, we will see rates become even more volatile, thus rising with the markets, instead of being influenced by the Federal Reserve.

Mortgage rates ticked up again last week, mainly on GeoPolitics, but we did get some interest news out of the Federal Reserve. Starting in September, they will quit buy Mortgage Back Securities (MBS), and also start to sell MBS. If this becomes the new norm, we are finally going to see mortgage rate NOT be influenced down by the Government, and they will finally, after 9 years, be traded evenly with the market. Thus...wait for it...rates will finally trend to where they should be, in the high 4's to low 5's.

Mortgage rates trended lower last week, as deadlock in congress is making it less and less possible for Trumps Tax Reform to get complete.  We also saw oil dip to a 7 month low, which is going to put pressure on stocks, thus more people going into Bonds.

Rates take a simmer, CFPB and Zillow battle, Student Loans guildelines easing.

Rules governing eSigning, Real Estate Bubble, info about long locks and more!!!

Mortgage rates last week, eeked out a slight improvement, but stock market this week is off to a hot start, and that improvement has been wiped out.  

Mortgage rates up for another week, rates for Conventional financing in the solid 4's now, and Government in the high 3's.

Current rates posted here:  RATES