Mortgage Rates will continue to move higher in near future

The mortgage-backed bond market is continuing to tank this afternoon. This is the 3rd straight day where mortgage backed-bonds have sold off. The cause for the sell-off is likely to be inflation concerns because the equity markets are also trading lower. Here is the bond chart as of 12:15 PM PST. The large red candlestick on the end indicates bonds are off BIG!


Mortgage rates work inversley with the price of these bonds so when bond prices move lower mortgage rates move higher.