Rates and Housing Figures Continue to Rise

Mortgage rates continue to tick up this morning after bonds fell beneath their 25 day moving average yesterday as people continue to pull money away from bonds and invest in stocks. It looks like we are now in a downward trend and if they continue to fall, which seems unlikely at this point, they will have to battle the floor of the 50 day moving average. This will be a pivotal battle for mortgage rates as a loss will hint at the US having a asset bubble which will push rates even higher.


The Case-Shiller housing report was released showing great strength in the housing market. The report showed a 4.3% annual increase in housing prices for June and a further drop in inventory which is driving home prices and new build numbers higher.


On the other side, consumer confidence numbers came in over 9% low – hitting a 6 year low of 84.8. It seems counterintuitive but this came in at the same time that stocks are flirting with all time highs. Maybe more and more people are coming to the conclusion that while the US economy as a whole is not in a healthy state, the Fed will do anything to prevent the market from falling.

Get your custom rate quote in 30 seconds

See your customized rate and fee options without sharing any personal information

See Purchase Rates See Refi Rates

Additional Articles

Still Need Help?