Mortgage Rates moved moderately higher this week compared to last Friday. This was a logical outcome based on steady weakness in the bond market. While the moves aren’t extreme in the bigger picture, they do push rates and pricing .125% higher depending on the product (think 30yr vs 15yr)

There weren’t any compelling economic reports to justify today’s bond market volatility. In terms of headline news, a case could be made that Biden’s $6 trillion budget spooked bonds a bit. Why would that be the case? Simply put, money spent by the government must come from revenues or Treasury issuance. The latter increases the “supply” side of the equation in the bond market.


Keith Murphy Branch Manager – Essex Mortgage NMLS #330827

Direct: 714-309-1140


About the Author

Tim Morissette, also known in the community as Mr. Foothill Ranch, offers over 40 years of real estate experience which has given him an established reputation and unmatched market knowledge. He is joined by his wife, Michele, as they continue to offer personal service with an emphasis on achieving his clients' real estate goals. This unique combination of traits has led to his proven track record of referral and repeat business. This can be witnessed by the trust of homeowners in Foothill Ranch where he has sold twice as many homes and represented three times more buyers than the next-leading real estate agent for the last 20 years.