Mortgage Blog

The interest rate went up again today. The market is very crazy.
The rate was up Friday & today. The bond market sell off on any good news.
The main reason is that the over-bought of the bonds. And any good
economic news will scare the bond investors and caused the selloff.

A few news today:
1)Investors are willing betting on risk assets. That means they
may not purchase bonds as crazy as before. So the mortgage rate
may not go down that much from here.
2)The market gained confidence on the good news from China
and Australia. So recovery is possible, though bumpy ahead.

Then let's back to our subject topic. Will the withdraw from Iraq
affect the mortgage rate. Personally I think it may. If the general
public feel more confidence in the economy(because of the withdraw),
the current mortgage rates may be the bottom.

Let's wait and see for the rates of this winter.