July 7, 2016
Mortgage Rate Trends: Still Moving Lower
Mortgage rates moved lower for an eighth straight business day on Wednesday. We’re devoting some extra coverage to rates this week as the historic lows continue, but it’s entirely likely that our next report in the short term could be on rates moving higher; this is a common factor in prolonged short-term rate improvements. There has been, in the past, a string of days where rates move lower due to a variety of factors, then a “bounce back” where the trend is broken due to economic data releases, breaking news, or some other issue that puts upward pressure back onto mortgage loan rates. Eight days of a downward trend is a long time in the short term, and while Brexit drama has been dominating the headlines and influencing rates here | more...