Energy prices remained the focal point of the bond markets this week. As the US/Iran peace deal showed signs a breaking down, oil prices and mortgage rates both rose. We will end the week back to 6.375% for our best 30-year fixed Conventional scenario.
Mortgage markets remained sensitive to energy prices this week. The potential agreement to ease tensions in the Middle East helped push oil prices down to their lowest levels since late February, reducing inflation concerns. Meanwhile, the economic reports revealed no major surprises and had only a modest impact on financial markets. As a result, mortgage rates ended the week a little lower, we are now down to 6.125% for our best 30-year fixed Conventional scenario.
A much better week for mortgage markets as rates. Reports of progress to end the conflict in the Middle East continued to be the primary influence for mortgage markets, while the economic data caused little reaction. We will end the week back to 6.25% for our very best 30-year fixed Conventional scenario.
Headlines about progress to end the conflict in the Middle East continued to be the primary driver for mortgage markets, while the economic data caused little reaction. After climbing to their highest levels since early July early in the week, mortgage rates reversed and ended slightly lower for the week. We will end the week at 6.375% for our best 30-year fixed Conventional scenario.
Happy Friday from Local Mortgage! Another volatile week for mortgage rates as the markets continue to weaken with unsettled issues in the Middle East increase inflationary pressure. Mortgage rates surged toward 8-month highs, now at 6.375% for our best 30-year fixed Conventional scenario. Mortgage rates are driven by bonds and the bond market hoped to see more evidence of shift toward peace during the 2-day Trump/Xi meeting in China. As soon as Trump got back on the plane to
Markets bounced around this week due to mixed headlines but will end the week right about where we were last Friday at 6.125% for our very best 30-year fixed conventional scenario.
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