After new record lows for mortgage interest rates, last week we saw rates inch upward at the end of the week.
What happens next could be influenced by financial news in Europe. Midweek, we expect that stock prices will drive bond trading and mortgage rates. Our most important and influential data of the week will come on Friday when the September Employment Report is released.
Good news about jobs and employment will mean good news for the U.S. economy but bad news for mortgage rates. Unfortunately, we can’t have it both ways.
No one has a crystal ball that foretells interest rates. Therefore, my philosophy remains: If you see an interest rate you like, lock the rate and be safe from volatility.