Mortgage Rates Pull Back After Strong Move Lower

Mortgage rates finally pulled back (higher)–albeit slightly–after spending most of the past 2 weeks moving significantly lower. Much of the recent move lower in rates came courtesy of a weakening global economic picture and falling prices in stock markets and oil. That was notable because it was helping rates in spite of some stronger economic data in the US–something that normally pushes rates higher. With that dynamic in mind, rates could have been characterized as “moving lower against their will.” In other words, left to their own devices, it was unlikely that rates would continue lower in the absence of continued stock market losses. Incidentally, the S&P 500 ended the day just b…
Mortgage Rates Newsletter – Market Analysis

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