Mortgage rates ticked up again last week, mainly on GeoPolitics, but we did get some interest news out of the Federal Reserve. Starting in September, they will quit buy Mortgage Back Securities (MBS), and also start to sell MBS. If this becomes the new norm, we are finally going to see mortgage rate NOT be influenced down by the Government, and they will finally, after 9 years, be traded evenly with the market. Thus...wait for it...rates will finally trend to where they should be, in the high 4's to low 5's.

Mortgage rates ticked up again last week, mainly on GeoPolitics, but we did get some interest news out of the Federal Reserve. Starting in September, they will quit buy Mortgage Back Securities (MBS), and also start to sell MBS. If this becomes the new norm, we are finally going to see mortgage rate NOT be influenced down by the Government, and they will finally, after 9 years, be traded evenly with the market. Thus...wait for it...rates will finally trend to where they should be, in the high 4's to low 5's.