Mortgage interest rates are up again today, even though all economic indicators and reports are consistent with market expectation. Consumer spending is up. Personal income is up. Consumer confidence up. Home price index up.
The fact that major stock indexes are higher and 10 year treasuries are down (both bad for mortgage interest rates), gold and oil prices down (both good for mortgage interest rates) I must respectfully plead the 5th 🙂 Up rates shall go, but how quickly and by how much is anyone’s/everyone’s guess.
With mortgage interest rates of below 5