Rate Update May 12, 2008
Mortgage rates rose Friday afternoon in response to inflation concerns surrounding oil prices. The economic calendar looks relatively light this week so we’ll be watching technical trading patterns as well as the stock market to forecast mortgage rates.
In case you missed it last week I posted this blog about how the stock market can impact mortgage rates. It may be timely reading.
Current Outlook: neutral
Posted: May 12th, 2008 under Rate Update.