What’s driving mortgage rates today?

Average mortgage rates rose again on Friday, as we predicted. However, for the second day running, the increase was sharper than we expected. So those rates ended the day at their highest level since June 19. All the days last week saw a rise, except Monday.

Of course, it’s much too early to call a trend. And we may well see falls soon, providing events trigger them. But, for now, the underlying market sentiment that was providing helpful downward pressure on rates seems to have dissipated. Still, poor gross domestic product (GDP) figures from China overnight may have put a brake on further sharp rises today.

The data below the table are indicative of mortgage rates today holding steady

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