Mortgage ratesÃ‚Â movedÃ‚Â slightly higherÃ‚Â after a strong run to the lowest levels of the year as of last Friday. Ã‚Â In general, financial markets moved toward safer investments (like bonds) heading into the weekend. Ã‚Â When demand for bonds increases, rates move lower. Ã‚Â As the new week got underway, market participants warmed back up to the notion of risk, thus undoing some of the positivity from late last week.
Investors are curious to hear what President Trump has to say at his “address of the joint session” tomorrow night, especially after today’s promise that there would be big announcements on infrastructure spending. Ã‚Â Markets have been eager to get more clarity on fiscal programs. Ã‚Â If the details are well-received, we could continue to see Ã‚Â more momentum toward risk, and rates could continue to move higher.