The upward trend in mortgage interest rates continued this week and they ended the week at their highest level in over 3 years. Among the factors that are driving an increase in mortgage interest rates is mostly attributable to the favorable outlook for the U.S. economy and the impact that faster growth rates will have on future inflation. Additionally there are numerous other factors that have conspired to drive rates up.
Next week the following events will occur and economic reports will be released that may impact mortgage interest rates:
- The ISM National Services Index will come out on Monday;
- The JOLTS Report will be released on Tuesday;
- There will be Treasury Auctions on Wednesday and Thursday; and
- Investors will be closing watching whether and agreement will be reached to fund the government before the current deadline of February 8, 2018.