After a rather confident day on Wednesday, home loan rates are back to their same old tricks on Thursday. The techniques in question include following the broader market reaction to the Iran war which has actually caused substantial and almost exclusive upward movement in interest rates for the whole month of March.
Average 30yr repaired rates have actually been at or near the highest levels in 7-8 months over the previous 4 days. Today easily took them to a little greater levels as global monetary markets lost ground. The relocation lines up symmetrically with lower stock prices and greater oil rates.
Up until there’s significant and enduring de-escalation of the Iran war, the most safe bet is for more volatility for rates of interest.