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The trend is still holding, so to hammer the point home: to know what mortgage rates are doing lately, just check the stock market.
This is not a long-term, direct relationship by any means but it's holding true this week.
The interplay between stocks and mortgage rates is a welcome development for home buyers because it's simpler for laypersons to follow the stock market than it is to follow the mortgage-backed securities market. When you know what to expect with rates, after all, the mortgage shopping "experience" can be a little bit less stressful.
So, enjoy it while you can -- by next week, we could back to watching esoteric data like Balance of Trade figures.
(Image courtesy: Google Finance)
Dan Green (NMLS #227607) is an active loan officer with Waterstone Mortgage. Email Dan ator call 513-443-2020.
Bonus: Click to get a free, no-obligation rate quote. I love to work with my readers!
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