Home loan rates began the day at the greatest levels in a month. The go up versus Friday was only moderate, however Friday’s levels were currently relatively near to early Feb’s highs. Oil prices continue putting upward pressure on rates, but with numerous caveats.
It takes quite a big move in oil to inspire enough movement in the bond market to impact mortgage rates. With this morning’s spike being the largest on record at the time, today certainly qualified. But throughout the day, both oil and bonds reversed course, thus permitting the average lender to change rates back in line with Friday’s most current levels.