Rate Update May 12, 2008

Mortgage rates rose Friday afternoon in response to inflation concerns surrounding oil prices. The economic calendar looks relatively light this week so we’ll be watching technical trading patterns as well as the stock market to forecast mortgage rates.

In case you missed it last week I posted this blog about how the stock market can impact mortgage rates. It may be timely reading.

Current Outlook: neutral

The views and opinions expressed in this site are those of the author(s) and do not necessarily reflect the official policy or position of Cherry Creek Mortgage Co., Inc. This is for informational purposes only. This is not a commitment to lend.