There have been some swings in the mortgage rate markets over the past week or so.  Last week we saw a slight drop in mortgage rates.  Last week the stock market rebounded from it’s big down week just prior.  There were some expectations that the Fed would retrench from it’s aggressive stance.  This possible reversal caused mortgage rates to tick down about .25%.

Today, we have seen the price of oil move back up after a slight downturn the previous week.  With the price of oil moving back up, inflation is still a considerable factor.  The downward mortgage rate trend has reversed on the increase in oil price news.  Today, mortgage rates have ticked back up .125% with expectations of further increases down the road.