Mortgage Rates Slightly Higher Today, But Sharply Lower This Week

After dropping sharply over the past 5 days, mortgage rates finally reminded us that they're still capable of moving higher. Thankfully, today's bump was modest in the recent context, only adding 0.04% to a 30yr fixed that had fallen 0.27% since October 7th.  Even though today's losses were minimal, they're potentially informative. Much of this week's improvement can be traced to concerns surrounding tech companies, and possible warning signs about a reduction in AI-related spending/investment throughout the sector.  While it's too early to draw any conclusions about such things, we can certainly observe a strong correlation between tech stocks and interest rates as of October 8th. What's notable about today is that rates refused to follow tech stocks any lower, even though the