Mortgage News Daily

Volatile Crosscurrents Keep Mortgage Rates Relatively Flat

Mortgage rates remained relatively flat this week despite opposing forces in the bond market. A sharp surge in oil prices initially pushed rates higher by stoking inflation concerns, but a surprisingly weak jobs report later that day pulled yields down. The labor market weakness offset the inflationary pressure, allowing bond yields to revert to prior levels. Consequently, mortgage lenders were able to keep rate offerings stable.