Financial market volatility is starting to increase in a noticeable way as we approach the middle of the year without a Fed rate hike in sight. This week’s Fed Announcement helped rates regain much of the ground lost last week. Meanwhile, housing data is mixed–generally in good shape long term, but with some shorter-term signs of slowing.
Source: Kevin Litwicki Universal Lending
Fed Helps Rates Recover; Housing Data Mixed

There has been a lot of economic data to digest this week and plenty of movement in financial markets. The news is decidedly mixed for the housing/mortgage market.
Source: Kevin Litwicki Universal Lending
Big Spike in Mortgage Rates and Big Changes in Housing Data

Interest rates tend to move in the same direction as stock prices, or so age-old wisdom would have you believe. It’s actually more complicated than a simple “if/then.” In fact, the following long term chart of the Dow and the 10yr yield make it look like the opposite is true!
Source: Kevin Litwicki Universal Lending
Earnings Season Threatening Interest Rate Rally

2012 was a scary time for global financial markets, and that fear resulted in a golden age for mortgage rates. Fast forward to present day and it’s not as blatantly obvious in the US, but the global economy is still very much in the weeds. As of this week, European rates are back at their all-time lows for the second time since the European credit crisis.
Source: Kevin Litwicki Universal Lending
The Real Reason Mortgage Rates Are Near 3-Year Lows