Article Summary
The average 30yr fixed mortgage rate is slightly lower today compared to yesterday and last week. This decrease is speculated to be a result of comments made regarding the US-China negotiations in Switzerland. The movement in rates is minimal and there were several other headlines that could have influenced the change. Next week’s inflation data and updates from the trade negotiations will likely impact rates moving forward.
What This Means for You
- If you are in the process of securing a mortgage, today’s lower rates may be beneficial to you.
- It is important to stay informed about current events, such as the US-China trade negotiations, as they may impact mortgage rates.
- Consider locking in your mortgage rate if you are close to finalizing your mortgage, as rates may fluctuate based on economic indicators and other events.
- Be prepared for the possibility of higher inflation in the coming week and how it may impact mortgage rates.
Original Post
Whether it’s today vs yesterday, or today vs the end of last week, the average top tier 30yr fixed mortgage rate is just a hair lower.
Today’s improvement was arguably a byproduct of trade related headlines this morning. Specifically, some comments suggested this weekend’s negotiations between the US and China in Switzerland would merely be a starting point.
As has been the case for most any other recent trading day, there were plenty of other headlines that may have had an impact, but the overall movement is so small that nothing really stands out.
Looking ahead, the bond market (and thus, rates) will likely be tuning into next Tuesday’s inflation data along with any substantive developments from the weekend’s trade negotiations (which would be a tall order since they don’t involve a meeting between Xi and Trump).
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