3rd week in a row that mortgage rates have increased. With economic news all pretty good, and some inflation news in the headlines, mortgage rates have been worsening. Still at 1 year lows, but off our lowest level on March 27th.

Mortgage rates popped up a little last week, as we say a little pull back and 4+ weeks of improvement. Most of the concern was the unemployment number, which came out Friday and was a GREAT number and tame in wage inflation. Rates are still at some of their best levels in about a year, and there is still room to improve further.

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Mortgage rates worsen towards the end of the week, and the trend is continuing today with the Stock Market rallying. But rates will bounce for the next few days in anticipation of Friday's Job Numbers. We are in locking mode, taking advantage of good rate gains and not gambling into the Jobs data on Friday.

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.