The Week in Review:
The trend we have seen for the past several weeks remained intact last week. Stock market moving higher, bond yields increasing and home mortgage rates once again going up. On the week, rates moved higher about .125%.
What to Expect:
The current trend has been in place for a long period of time. I would expect the markets to take a breather and retract just a little, possibly bringing home loan rates down temporarily. However, the overall trend of rates moving higher this year is as predicted and should continue.
This is a big week for economic news with a Fed meeting and announcement coming Wednesday. Also, this week the all-important Jobs Report comes out at the end of the week. Recent reports on unemployment have been favorable. If the report on Friday continues to show improvement, we could see mortgage interest rates continue the climb.
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