Understanding Mortgage Rates | dripp inc | Home Equity | Refinancing and Remortgage Guide

Good Afternoon,

As I expected, mortgage interest rates went up again for the third straight day. The big surprise was the disappointing quarterly earnings of Google, Microsoft and the unexpected announcement from Starbucks closing locations nationwide. This shook the NASDAQ today. So, why aren’t investors moving into bonds today? Well, it’s not always certain that they will especially since the concern of inflation has multiplied since last week. Long-term securities and bonds are simply not attracting investors because of this. At least there is one thing we can count on in a turbulent market and that is anything can happen. I do think for now that mortgage interest rates will continue to rise into next week.

There are few reports due next week including the Fed Beige Book that talks about the U.S. economic activity by region.

Simply Put: Rates going up again, but if inflationary concerns lessen then we can see them rebound.

Should I lock if I’m closing within:
- 15 days? YES
- 30 days? YES
- 45 days? NO
- 60 days? NO