Mortgage Rates Drift Slightly Higher Again

After falling for 5 straight days leading into Tuesday, mortgage rates have now moved slightly higher on each of the past two days. As was the case with the improvement, the bounce back has been exceedingly modest in its pace. In fact, most borrowers will be seeing the same rates today vs last week with only minor changes in upfront costs.

Today was the only day of the present week with any meaningful economic data. This is relevant because rates are based on bonds and economic data is a key source of motivation for bond movement, but it depends on the data in question. 

For instance, next week’s big jobs report on Friday is guaranteed to result in some of the highest-volume bond market trading of the month.  It also has a higher chance than any other scheduled…