The theme for the day is INFLATION. More than any other concern (market data, ECB policy, and potential Fed hikes) is the idea that inflation is in the near future. Every time the Trump administration talks about proposed policy, the end result always leads to fears of inflation. The recent ew days in the green appear to be a consolidation trend, not a true reversal in mortgage rates. Heading into a holiday week is not helping matters. Many traders are covering thier short term risks by selling off early. The Feds have hinted at the idea at hiking, although the rates have already been hit hard this month. Check back next week to get more updates on the bond market and rates.
Bookmark this page for mortgage rates:
• 30 year (FRM) rates at 4.12% (+0.09%).
• 15 year (FRM) rates at 3.35% (+0.08%).
• FHA 30 year Fixed rates at 3.75% (+0.00%).
• Jumbo 30 year Fixed rates at 4.22% (+0.12%).
• 5/1 ARM rates at 3.05% (+0.05%).
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