The trend is still holding, so to reinforce the point: to know what mortgage rates are doing lately, just check the stock market.
As stocks go down, mortgage rates go down
As stocks go up, mortgage rates go up
This is not a long-term, direct relationship by any means, but it's holding steady this week.
The interplay between stocks and mortgage rates is a helpful for home buyers because it's easier for everyday people 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 confusing data like Balance of Trade figures.
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