Mortgage Rates Jump After First Republic Sale

Mortgage Rates Jump After First Republic Sale

Mortgage Rates Jump After First Republic Sale Whether we call it a bailout, a failure, or a fire sale, First Republic Bank was formally absorbed by JP Morgan Chase. Interest rates moved higher in response, and that may be counterintuitive for those who know a thing or two about what motivates rates. Bonds are one such haven and bond yields (aka rates) move lower when more investors want to buy them. So why didn't that dynamic play out this time around? There are different levels of "failure" and the resolution that arrived today is one of the more palatable versions. That was how the day began for rates, but it got worse after a key economic report on the manufacturing sector came in stronger than expected. In general, strong economic data puts upward pressure on rates. The average lender moved at least an eighth of a percent higher for a conventional 30yr fixed.

Start Your Home Search Today!

CALL DIRECT: 407-710-8720
www.HomesInOrlando.ForSale

#mortgages#realestate#mortgage#mortgagetips#firsttimehomebuyer#realtor#homebuying#homeownership#homeloans#mortgagerates#homebuyers#realtors#homebuyer#househunting#preapproval#orlandorealestate#orlandorealtor#orlandorealestateagent#oralandofl#realestatenews
#firstrepublic #firstrepublicbank #firstrepublicfailure