From last week’s policy announcement from the European Central Bank (ECB), focus shifted to the Federal Reserve’s (the Fed) policy announcement this week. Although rates appeared to react to the Fed, reality was far more complicated. Meanwhile, housing metrics continued to grind sideways.
Source: Kevin Litwicki Universal Lending
Fed Week Rate Volatility Had Nothing to do With The Fed

At the end of June, European Central Bank (ECB) president Mario Draghi made a series of comments that led Market participants to believe the ECB was moving closer to announcing an end to the ongoing expansion of its Bond buying program. In other words, it looked like a European taper tantrum was fast approaching.
Source: Kevin Litwicki Universal Lending
From Taper Tantrum to Death Cross: Either Way, Rates Are Pushing Back

After a clear defeat last week, the mortgage rate landscape grew more complicated this week. The traditional market movers (like the Fed and economic data) are still important, but their messages occasionally clash. Sometimes they’re simply overshadowed by other factors. What do rates really care about and how might the rest of the year unfold?
Source: Kevin Litwicki Universal Lending
Conflicting Messages Adding to Interest Rate Volatility

There was an unusual mix of developments affecting housing and mortgage markets this week. Housing finance reform was in the news, but not in the usual ways. Rates shot higher, but not for the usual reasons. And an industry report continues pointing toward a seller’s market–something that would usually imply increased housing inventory.
Source: Kevin Litwicki Universal Lending
Housing Reform, Interest Rate Drama, and a Seller's Market