Mortgage rates are on a cusp of jumping quite a bit higher, as the 10 year Bond and the Mortgage Bonds are close to making a jump, which would allow rates to jump in to the mid 5%.  We are going to watch Federal Reserve decision on Thusday, not for a rate increase, but for what their policy statement is.  Then on Friday we will have Producer Price Index, or inflation at the producer level, and also this week the US is going to sell of more of our debt, which will influence rates also.  Gonig to be another roller coaster week for rates, with the consensus that rates will increase.

Mortgage rates ticked up, just a smidge, after a pretty wild and volitile week.  The main influence last week, that actually caused rates to ease, was the threat of Trump adding tariffs onto Steel and Aluminum, which would not only hinder the US economy, but cause allies to impose tariffs on our stuff as well.

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.

As I indicated in the Blog last week, rates were anticipated to rise, based on economic news, unless N. Korea and Trump decided to ratchet up over the weekend, Read More...