Home mortgage rates returned the improvement seen last Thursday and broke above last Wednesday’s levels to strike the highest mark since June 10th. This isn’t a big range in the larger picture, however it does leave rates near 10-month highs.
The relocation is likewise a bit counterproductive offered advancements in other markets and normal correlations. For example, On nearly any other recent trading day, if oil costs and European bond yields are both moving lower (they are), so are U.S. bond yields and rates.
The disconnect might be as simple as an ongoing response to last week’s Fed announcement which confirmed that investors need to brace for a possibly higher rate path in the future and– at the minimum– less transparency about how that rate path may develop.