The Smart Team of NOVA® Home Loans

Mortgage Rates Stumble as Political Uncertainty Weighs

Posted To: Mortgage Rate Watch

Mortgage rates were slightly higher for the first time in 8 days as markets braced for the impact of political developments. The big issue of the day was (and still is) the healthcare bill set to be debated in the House of Representatives tonight. In general, if the bill is passed, investors will be more keen to believe in the viability of other legislation more germane to financial markets (like tax cuts, other stimulus, and regulatory reform). Those “other” policy points were key reasons for the sharp move higher in rates at the end of 2016. If confidence increases , it could put the same pressure back on rates. But if investors lose confidence in the policy potential, stocks and bonds would have more motivation to move lower (as they’ve both been doing for the past 2 weeks). As of yesterday…(read more)

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Source: Mortgage News Daily

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