Today's rates are just the same as last Friday, even though we have seen some relatively big swings in the stock markets during the last 5 days. Investors are simply not feeling good about day to day economic developments, and are chasing the highs and lows. The smart money is still gravitating toward the safe haven of bonds, which will keep interest low.
Also, inflation, real or imagined, is not really presenting a problem and doesn't look like it will be a factor for at least most of 2013. All of this is good for mortgage rates, but we still need to see some sustained economic growth to really get the housing market going.
Friday, April 19, 2013
Posted by Justin Lee Thayer