With the sell off last week in stocks, it was anticipated at rates would improve nicely, but when it all settled, we have just a slight improvement. This week is HUGE as we have the Federal Reserve on Wednesday and LOTS of data on Friday, right before a major holiday. Will the Fed Raise rates (which would be good for us) on Wednesday, or wait until January? This week is going to be rough.

 

Mortgage rates were pretty much flat last week, but that was hugely STRANGE, as the stock markets totally sold off and typically with that much sell off, Mortgage Bonds would of rallied and rates should of improved, SIGNIFICANTLY. But they did not. Rates are currently worsening. With Consumer Confidence, GDP and Personal Consumption all this week, going to be a rough ride again for rates.

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Mortgage rates ended higher last week by 0.02, not much, could of been worse, as the Federal Reserve indicated that they will continue to raise rates, which indicates they see inflation on the horizon.  And inflation is BAD for mortgage rate!

If you didn't watch my blog from last week, the link is here, I go over rates a little more:  https://goo.gl/SeY3vC