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Mortgage Rates Calm Ahead of Key Data

Mortgage rates played the same role they've been playing for weeks by holding fairly steady today.  At the average lender, if you're looking for an average loan and you have above average qualifications, you'll have seen the same interest rate at the top of any loan quote since late June.  Adjustments have only come in the form of the upfront costs associated with any given "note rate."  

The markets that underlie rate movement experienced some volatility today as a new round of tariffs was announced yesterday evening.  "More tariffs," in general, are bad for stocks and good for rates because they create economic uncertainty and/or fear of economic weakness.  A weaker economy does less to promote stock price growth and more to cause demand for safe haven investments like bonds (higher demand for bonds = lower rates).

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