Mortgage Rate Trend Index Down: Oct. 8, 2015
Will rates go up, down or remain unchanged?
Branch manager, Sierra Pacific Mortgage, White Marsh, Maryland
Mortgage rates have been rising this week after a big dip last week because of the weaker-than-expected jobs report. Since the report came out, stocks have rallied because the market believes that the Fed will be accommodative longer because of economic weakness. As often happens when stocks rally, we see bonds selling off, resulting in higher yields and higher mortgage rates. Looking forward, I expect weak economic data and weak corporate earnings to result in slightly lower rates in the coming week.
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