The Smart Team of NOVA® Home Loans

Mortgage Rates End Week Roughly Unchanged

Posted To: Mortgage Rate Watch

Mortgage rates were sideways to slightly higher this week as global financial markets braced for volatility surrounding this weekend’s French election. While it may seem like a world away from the domestic mortgage market, events that potentially impact the stability of the European Union have a strong track record of filtering through to movement in domestic bond markets. And bond markets are the primary driver of day-to-day movement in mortgage rates. In addition to preparations for the weekend’s events, traders also reacted to today’s headlines concerning tax reform . Just before 2pm, the Associated Press reported that Trump would announce his tax plan next week and that it would be bigger than “any tax cut ever.” In general, the promise of tax cuts has fueled stock market gains at the expense…(read more)

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Source: Mortgage News Daily

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