Mortgage Rates Edge Up as Trump-UK Trade Deal Boosts Economic Optimism

Mortgage rates went up slightly today after President Trump announced a new trade agreement with the United Kingdom. This deal made investors more optimistic about the economy, causing interest rates on bonds—especially the 10-year Treasury yield—to rise. When these rates increase, mortgage rates often follow, making it a bit more expensive to borrow money to buy a house. Recently, mortgage rates have changed frequently due to worries about inflation, global trade tensions, and the possibility of economic recession. While earlier this week rates had dropped slightly after the Federal Reserve's meeting, today's rise reflects the new optimism around international trade. If similar trade agreements continue to happen, some experts think it could help prevent an economic slowdown.