Mortgage rates got a reprieve last week, but only because Italy can't get its act together, if it wasn't for that, rates would of worsened for the 5th week in a row. We are still at highest levels since September 2011. This week is a biggy, with wage inflation on everyone's mind. I suspect a tepid week, until Friday when we see unemployment numbers and wage inflation numbers.

 

In this Blog:

• Mortgage rates are going up
• Rocket Homes?
• Down Payment Assistance update
• more!!!!

Mortgage rates ticked up again, for the 3rd Straight week. With focus again on inflation, Federal Reserve unwinding of their bond purchase and slower retail sales. This week we will have lots of housing data coming in as well as more tariffs. Probably another bad week for bonds and mortgage rates.
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Mortgage rates are still trending up, as last weeks wage inflation numbers was not pretty. This week we also have more wage inflation in the Consumer Price Index or CPI, which will really dictate rates. This will be the most looked at report this week. We also have the US selling debt in the form of Treasury auctions that will play a roll in rates as well. Anticipating rates worsening this week.
#1stChoiceLender #1stChoiceMortgage #mortgagebrokers