At the opening this morning, we are experiencing our 3rd day in-a-row of rising rates. What’s up with that? Thankfully, at the moment, they are clawing their way back. Last week, Mortgage rates rose as investors gained confidence in the global economy. China and Europe posted better-than-expected manufacturing rates, U.S. Jobless Claims fell for the second straight week, and the worst of the European debt crisis appears to have passed.
A strengthening economy = Mortgage Rates will go up! Continue reading
Mortgage markets improved last week on renewed concerns of a European debt default, and Federal Reserve rhetoric.
Mortgage markets worsened last week as the U.S. economy continued to show that it’s in recovery, and as Federal Reserve Chairman Ben Bernanke publicly hinted at the same.