This morning mortgage rates should open a little bit higher by about .125%.
Currently down about 25 bp and in negative territory, MBS opened lower this morning due to Retail Sales opening up to 1.3% and Retails Sales Ex-Auto at 1.2%- both higher than expected. The Consumer Sentiment Index just came out as well and that’s up too. What all this means is that consumers, such as yourself, are more comfortable with the economy’s outlook.
When indicators show the economy is good, rates usually spike up because of the adverse relationship.
I’ll back if anything changes.
