Posted on July 2, 2008Filed under Mortgage-Backed Securities Read the complete post or link to it
The trend is still holding, so to hammer the point home: to know what mortgage rates are doing lately, just check the stock market.
As stocks go down, mortgage rates go down
As stocks go up, mortgage rates go up
This is not a long-term, direct relationship by any means but it's holding true this week.
The interplay between stocks and mortgage rates is a welcome development for home buyers because it's simpler for laypersons to follow the stock market than it is to follow the mortgage-backed securities market. When you know what to expect with rates, after all, the mortgage shopping "experience" can be a little bit less stressful.
So, enjoy it while you can -- by next week, we could back to watching esoteric data like Balance of Trade figures.
(Image courtesy: Google Finance)
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