Mortgage Rates Still Giving Back Coronavirus Gains
Mortgage rates have spent just over a week moving back up from the lowest levels in more Than three and a half years. Those long-term lows came courtesy of the panic surrounding The coronavirus outbreak, which led investors to move more money into safe havens like Bonds. When demand for bonds rises, rates fall, including mortgage rates.
2019 was the best year for mortgage rates since 2011. Big, long-lasting improvements such as This one are increasingly susceptible to bounces/corrections.
Fed policy and the US/China trade war have been key players (and more recently, the coronavirus outbreak). Major updates on either front could cause a volatile reaction in rates.
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