HomeLoans Blog

Bond markets have today gone through a massive sell off, pushing mortgage interest rates up significantly. Since my last post on interest rates on July 21, rates have almost increased a full percent.

This week has several important economic reports plus a two day meeting of the Federal Reserve's Open Market Committee.

Most experts expect a good bit of volatility in the stock and bond markets, but today the bond market has simply dropped.

Uncertainty about the bailout perhaps.

Uncertainty about the credit markets perhaps.

Uncertainty about the upcoming economic reports perhaps

Uncertainty about the coming Federal Reserve action perhaps.

Whichever, bonds prices are falling sending interest rates higher. There have been 3 reprices this afternoon.