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Rates Higher to Begin Volatile Week; Most Americans See Affordability Problem

Rates Higher to Begin Volatile Week; Most Americans See Affordability Problem

Mortgage rates continued higher today, and at a quicker pace than the modest increase seen at the end of last week. Financial markets are undergoing a change of heart regarding their approach to Brexit (market shorthand for a "British exit" from the European Union). Brexit fears had helped drive interest rates to long-term lows in the US and to all-time lows in Europe. Investors don't really know what to expect in the event the U.K. actually leaves the EU, and one of the ways to play that uncertainty is to buy safer-haven assets like bonds. Better the buying demand for bonds means lower interest rates. As of late last week, the bond-buying frenzy was already beginning to change. Over the weekend, polls came out that suggested an increased likelihood that the U.K. would remain in the EU. Financial
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