Mortgage Rates Move Higher After Trade Deal

Mortgage rates moved back up to the higher levels seen earlier this week after the official announcement of a trade deal between the U.S. and the U.K. Most lenders actually began the day fairly close to yesterday's latest levels, but were ultimately forced to raise rates in response to weakness in the bond market.   The rationale for this market reaction can be debated. Some market watchers conclude that a trade deal is simply "good for stocks and bad for bonds" because it's economically bullish. While that sentiment CAN account for some of the movement, it's not the whole story. Bonds (which dictate rates) have specific concerns regarding inflation, foreign demand, and issuance needs. These are high level topics that are beyond the scope of a daily mortgage rate recap, but suf