Yesterday saw mortgage rates uptick slightly and move sideways or marginally higher today. This is little economic data coming out this week with the ability to move mortgage rates, so volatility is to be expected as we mentioned on Monday.
Mortgage rates have the ability to move on any new European news coming out, which has been a recurring theme for many, many months.
Euro Watch 2012 Continues
We’re continuing to hear about bailouts for Eurozone countries and the markets are simultaneously sensitive to fact and speculation about what is or might be occurring with Eurozone countries.
The truth is that with every new piece of news that comes out, many more questions arise. Good news may turn out to be bad news and vice versa. The bottom line is that market watchers are and having been keeping an eye on Europe for many months and Europe can and will move rates later this week if any bombshell news is released.
Where Are Mortgage Rates Now?
There is a higher chance of the markets seeing bad news in the future coming out of Europe and domestically than good news. This means there is a good chance of mortgage rates maintaining their current levels and staying in a fairly tight trading range.
Since mortgage rates can change many times per day, call us directly or use the rate request form above to get up to the minute mortgage rate quotes.