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Rates End Week at Highs as Drama Dies Down; Tariffs Add to Remodeling Costs

Rates End Week at Highs as Drama Dies Down; Tariffs Add to Remodeling Costs

Mortgage rates moved up on Friday, ultimately making it to the highest levels of the week for the average lender. Underlying bond markets came under pressure as Trump made several reassuring comments about the future potential for a trade agreement between the US and China. Before that, trade war headlines dominated the week and had taken rates and stock prices generally lower. The net effect is that the market should shift from worrying about this week representing a dire deadline to expecting an ongoing and nuanced process. That nuanced, ongoing process is not as good for interest rates as the panic that preceded it. That means there's a legitimate risk that rate momentum is higher until and unless some economic or political event comes along to make a case to the contrary. Loan Originator
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