Mortgage Rates Making A Recovery Attempt

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Mortgage Rates Making A Recovery Attempt

Here We Go Again: Mortgage Rates Making Another Recovery Attempt In a normal mortgage rate environment, it's common to see a remarkably equal distribution of good and bad days with rates moving lower or higher versus the previous afternoon. Sure enough, rates continued moving significantly higher last week, but the 3rd winning day for rates (last Wednesday) was big enough to keep hope alive. This was the first time since the volatility early in March where rates ended lower over a 2-day time frame. The thought process is that de-escalation helps oil prices drop, thus easing upward pressure on inflation and allowing the Fed to be slightly less aggressive in making policy changes that are unfriendly to rates. There's no way to tell how likely that is. Today's number is closer to 4.875% for the same scenarios.Here We Go Again: Mortgage Rates Making Another Recovery Attempt In a normal mortgage rate environment, it's common to see a remarkably equal distribution of good and bad days with rates moving lower or higher versus the previous afternoon. Sure enough, rates continued moving significantly higher last week, but the 3rd winning day for rates (last Wednesday) was big enough to keep hope alive. This was the first time since the volatility early in March where rates ended lower over a 2-day time frame. The thought process is that de-escalation helps oil prices drop, thus easing upward pressure on inflation and allowing the Fed to be slightly less aggressive in making policy changes that are unfriendly to rates. There's no way to tell how likely that is. Today's number is closer to 4.875% for the same scenarios.

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