Mortgage Weekly Update - Last Week in Review - Rates unchanged to slightly improved!
Foster Weeks publishes a weekly mortgage report which is updated every Monday morning. As is pointed out in his newsletter, though stocks and bonds bounced around last week, interest rates ended the week unchanged to slightly improved from the week before....Economic news releases took a backseat to the massive movements in Stocks. Amazingly, when all the smoke cleared, home loan rates were unchanged to slightly improved for the week overall.
What happened? First, remember that the Stock and Bond markets compete for the same investment dollar. This means that when Stocks are worsening and investors are selling off their holdings, some of that money gets moved over into the Bond market, which helps home loan rates improve. And vice versa, when Stocks move higher and investors are buying into the Stock market, some of that money comes back out of Bonds, which causes home loan rates to worsen... Read more.
- Foster Weeks
posted by SFResidence.com @ 7:27 AM
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