Last week was a spectacular week for mortgage rates. As the Federal Reserve indicated that they will NOT raise rates in 2019 and may only raise rates 1x in 2020. Further concern about a recession is keep rates lower. Economic news is pointing towards a slow down, and past Fed Chairman came out today and actually indicated that the Fed may have to lower rates again. RATE ARE GREAT!

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Mortgage rates managed to squeak out a small improvement last week, but we are starting out this week worsening, as Trump extended Tariff hold and it looks like there could be a Trade Deal with China. This could be bad for rates as a good trade deal with ROCK the Stocks and typically sends bonds yields higher, which will send mortgage rates higher.

 

Mortgage rates trended higher last week as rumors of a trade deal with China popped up. All eyes will be on China and trade deal. If we get a trade deal, Stocks should shoot up and mortgage rates should also rise. And also watch the Brexit news, this will be a rate influences as well.