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Mortgage Rates Highest Since January; Weather and Rates Juicing Home Sales?

Mortgage Rates Highest Since January; Weather and Rates Juicing Home Sales?

Mortgage rates continued higher today, making it back to levels last seen in late January. Today's key event was a policy announcement from the European Central Bank (ECB) and the accompanying press conference with its president Mario Draghi. While the ECB's announcement exceeded market expectations (rate cuts and bond-buying), Draghi said that additional rate cuts were unlikely. This is what markets chose to focus on. S tocks fell and rates moved higher as a result. Reason being: when a big central bank is providing accommodation to the global economy, it's essentially pumping money into the financial system. Both stocks and bonds like that money (it helps stocks rise and rates fall). If one of the central bank chiefs says that some form of further accommodation is unlikely, it's tantamount
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