A Word About Rates:
A Word About Rates: This week saw a noteworthy increase to mortgage rates that warrants explanation. Many clients are asking what’s happening in the market, especially in light of the fact that the Dow Jones fell 356 points a few days ago, the worst decline in over 2 months. Simply put, interest rates are rising in response to several months of data that suggest the United States economy is accelerating, specifically the labor market. Yesterday, initial jobless claims fell to