• Mortgage rates dropped noticeably this week as financial markets opened sharply changed from Friday’s latest levels thanks to Trump trade tweets over the weekend.  The stock market dropped to its lowest levels in several weeks before bouncing back as the day progressed.  As money flew out of stocks, it found a safe haven in the bond market.  Mortgage rates are most directly affected by the bond market, and when demand for bonds increases, rates fall.

    The average lender was offering its best rates in roughly a month this morning.  You’d have to go back to April 10th to see anything lower.  And there were multiple lenders offering their lowest rates since April 1st.

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