It’s time to take a quick look at what’s going on in the mortgage world today. A couple of things that are pushing rates up a bit:
- At the Federal Reserve’s conference over the weekend, no one sounded like they wanted to raise rates soon. Well, think about it, we’re at best in a very precarious recovery and at worse in what has been called a “dead cat bounce.” Of course they aren’t going to want to raise rates soon. But, the markets reacted positively, the stock market is higher today and rates are also higher.
- A couple of relatively minor manufacturing reports came in and showed some improvement as well. Nothing earthshaking but yet they add to the trend of seeing that things might be rounding a corner.
Because of these, we’re a bit higher on rates today than we were on Friday.
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