Mortgage rates are still at historically low levels. Mortgage rates are based on mortgage backed securities (bonds) and move much like the stock market does. In fact, rates often move in opposite direction of stocks as they are based on bonds and investors will seek the safety of bonds when the stock market is tanking… the reverse is also true.
Here’s some of the economic indicators scheduled to be released this week:
Thursday, February 13: Retail Sales and Initial Jobless Claims
Friday, February 14: Consumer Sentiment (UoM)