Interest rates continue taking most of their cues from the fluctuations in oil and stock prices. This is a break from historical norms where rates have typically paid much more attention to economic data (the reports on various economic metrics that are released on a set schedule throughout the month).
Source: Kevin Litwicki Universal Lending
Volatility Means What You See Is Not Necessarily What You Get

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Source: Kevin Litwicki Universal Lending
What Does This Week’s Rate Spike Mean?

Without question, 2016 continues to be one of the wildest rides in recent memory for financial markets. This hasn’t been good for 401k balances, but it has been great for mortgage rates. The average 30yr fixed rate quote is now back to the lowest levels in more than a year.
Source: Kevin Litwicki Universal Lending
Lowest Rates in Over a Year. What Now?

Mortgage rates plunged to 8-month lows this week, defying most expectations. What’s up with that?!
Source: Kevin Litwicki Universal Lending
Predicting Rising Rates is a Very Dangerous Game